Freddie Mac released it’s monthly Multi-Indicator Market Index (MiMi) last week, measuring housing activity on a national and state scale and providing relative data for the top 100 metro areas in the nation. MiMi ranks each state and city based on four indicators: purchase application rate, which is based solely on applications for single-family homes in the relative market; payment-to-income (PTI), which measures payment on 30-year fixed mortgages as it relates to a homebuyer’s income; whether or not homebuyers are current on their mortgage payments; and employment, an indicator that separates a weak market from an in-range market (ideal) to an elevated market. According to MiMi, the U.S. is on the low end of in range and improving. Purchase applications are up 1.7 percent but…
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