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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The composite index rose 7% last week (purchase +7%, refi +9%) after purchase applications in particular fell 27% over the prior four weeks, leaving them still near lows since the 1990s.
- The renewed trend lower in activity has come as mortgage rates have pushed higher, with the 30Y up more than 80bps since mid-Jan at 6.79% (+8bps on the week) and pushing closer to October highs of almost 7.1%. The move is primarily down to Treasury yields surging [pink line] but also a push higher in spreads [red line].
MBA 30Y rate (white), purchase applications (green), 10Y Tsy yields (pink) and mortgage rate to Tsy spread (red)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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