Mortgage giant Freddie Mac recently released their Multi-Indicator Market Index (MiMi) showing that many of the nation’s housing markets continue to improve. The national MiMi value stands at 83, which indicates a housing market that’s on the outer range of its historic benchmark level of housing activity. In addition, the national MiMi value has improved 7.46% (year over year).
“The U.S. housing market is poised to have its best year in a decade. The National MiMi currently stands at 83, the highest since September of 2008. And the trends are nearly all positive. Home purchase applications are headed higher, with the National MiMi purchase applications indicator increasing nearly 12 percent from one year ago. The mortgage delinquency crisis is not completely behind us, but delinquencies are generally trending down, with the National MiMi current on mortgage indicator at 85.5, the highest reading since August 2008. Robust employment growth has helped drive the National MiMi employment indicator above its historic benchmark, and stands at 106.5, up nearly 6 percent from a year ago.” Said Freddie Mac’s Deputy Chief Economist Len Kiefer.
