Chicago, IL (PRWEB) April 24, 2014 -- Lenders, like Peoples Home Equity are happy to see the U.S. housing market improve over the last month. Freddie Mac confirmed that the housing market is indeed improving by announcing their monthly Multi-Indicator Market Index (MiMi) on April 23rd. This index asses where each market is in relation to its stable range of home purchase applications, proportion of on-time mortgage payments, and the local employment picture.
In February the national MiMi was -3.11 points which was 0.03 points below January MiMi which reflected a weakening housing market. However, the three-month trend was still positive by +0.12 points showing a slightly improvement. On an annual basis the MiMi in February 2014 was still 0.67 points higher than in February 2013.
Even though there is only a slight monthly improvement shown in the index, the catch is that the housing market is currently drawing strength from delinquency and employment rates as opposed to more focused housing metrics like applications and sales.
After overcoming the winter months, the housing market is continuing to show improvement in most states. In the District of Columbia, eleven states are currently in their stable range of housing activity, seven states more than a year ago. While in February 2013 there were no metro areas considered stable, last February there were four metro areas, three of them located in Texas, that have shown improvement and have reached their stable range of housing activity.
Lenders like Peoples Home Equity are glad that the top metropolitan areas are still improving. The most improved states so far are South Carolina, Louisiana, and Ohio while the most improving metro areas include Charlotte, Columbus, and Nashville.
If interested in securing a competitive, lower rate mortgage, consider speaking with a Peoples Home Equity loan officer today details at: 262-563-4026.
Giorgio U Ferrero, Peoples Home Equity, http://www.peopleshomeequity.com/index.php/main, +1 8473386062, [email protected]