DataIndustry News

Freddie Mac releases Baltimore market indicator

Market index studies employment, purchase applications, mortgage failures and payment-to-income ratio

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Freddie Mac recently released it's monthly Multi-Indicator Market Index (MiMi). MiMi measures housing activity on a national scale, state-by-state, and provides relative data for the top 100 metro areas in the nation. MiMi ranks each state and city based on four indicators. The first is purchase applications, which is based solely on applications for single-family homes in the relative market. Next is payment-to-income (PTI). This measures payment on 30-year fixed mortgages as it relates to a homebuyer's income. After that is an indicator as to whether or not homebuyers are current on their mortgage payments. Lastly is employment, an indicator that separates a weak market from an in-range market (ideal) to an elevated market. On the Freddie Mac scale, in range refers to markets situated between 80 and 120. Numbers below 80 are considered weak, and numbers over 120 are considered elevated. In range is the ideal balance, but the indicators are what determine the final MiMi. The ...