Quote attributable to Freddie Mac Deputy Chief Economist Len Kiefer:
"Nationally, all MiMi indicators are heading in the right direction for the second consecutive month and improving more than 6 percent from the same time last year. Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound. The one area of the country that has been slow to respond has been the Northeast. However, we've started to see these housing markets turn around, especially in Pennsylvania, Connecticut, New Hampshire, Vermont and Maine. While many of the locals markets in the Northeast are still weak, they're steadily trending in the right direction and their pace of improvement is accelerating. Overall, the West remains especially strong, with many markets posting double-digit growth in their MiMi purchase applications indicator compared to a year ago and helping to keep the country on pace for the best year of home sales since 2007."