Colorado's housing market is one of the country's top-ranked markets and also one of the U.S.'s improving markets.

That's according to a new report by the Federal Home Loan Mortgage Corporation, known as Freddie Mac, which indicates Colorado scored high in its latest Multi-Indicator Market Index (MiMi).

Freddie Mac said the MiMi index uses four criteria: at home purchase applications; payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income); proportion of current mortgage payments in each market; and the local employment picture.

Colorado ranks No. 2 nationally, only behind Utah, on the national MiMi score, and over the past month, its MiMi value improvement value was the fifth-highest in the country.

Read more at the Denver Business Journal: