Rising employment, declining delinquencies fail to buoy housing

By Jann Swanson | Mortgage News Daily

Freddie Mac said Wednesday the U.S. housing market is sending mixed signals. Most markets, according to the company’s Multi-Indicator Market Index (MiMi) remain weak even though mortgage delinquencies are declining and local employment is improving. House price gains and attractive mortgage rates are also apparently not motivating buyers.

The national MiMi value stands at -3.01 points, improving only 0.05 point from March to April. The three=month trend was an increase of 0.07 points, considered flat. However, on a year-over-year basis, the MiMi improved by 0.65 points.

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June 26, 2014

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