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by CareyBot

Mortgage Guaranty Insurance Corp. on Tuesday reported that its national Market Trends Index–which measures price and sales movement in single-family housing markets–improved to 6.7 in the third quarter after being flat at 6.66 for the last two quarters. "The U.S. economy grew at a steady rate as annual employment rose 1 percent, its strongest gain since 2001," said Neil Siegel, MGIC's senior market analyst. "However, cutbacks in the airline and auto industries, moderately higher interest rates, and rising energy costs could dampen the rate of economic growth." MGIC's MTI is based on the Market Trend Analysis Report produced quarterly by MGIC's Credit Policy Department using lagging three-month market data from 73 Metropolitan Statistical Areas (MSAs). The index is a barometer...