Dive Brief:

• Freddie Mac released its Multi-Indicator Market Index Wednesday, reporting a score of 75.4 for March — which represents a lukewarm housing market but also a 0.69% bump from the previous month.
• The report showed that markets in 36 states and 77 of 100 metro areas improved on a three-month trend.
• The cities with the greatest improvements month-over-month, according to Housing Wire, were: Portland, OR with 2.68% growth; Riverside, CA, with 2.22%; San Jose, CA, with 2.13%; Nashville, TN, with 2.10%; and Baton Rouge, LA, with 1.99%.

Dive Insight:

Freddie Mac attributes the upward swing to increased demand during the spring buying season and low mortgage rates.

"The nation's housing markets are getting back on track. Better employment prospects, rising home values and increased purchase activity are all driving improvements in housing markets across the country,” said Freddie Mac Deputy Chief Economist Len Kiefer.

However, the group also warned that anticipation of the Federal Reserve's planned interest rate hike could lead to constantly changing mortgage rates throughout the rest of the year, keeping homebuyers on their toes — and possibly on the sidelines.