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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
- Existing home sales fell more sharply than expected in November, with the decline accelerating from -5.9% to -7.7% M/M (cons -5.2%).
- It’s the fastest monthly decline since Feb and before that the depths of the pandemic in Apr/May’20.
- The level of existing sales catches up with the continued slide in pending sales, with existing just 0.5% higher than May’20 low prior to which it’s the lowest since 2010 stimulus distortions and then mid-2009.
- However, "the market may be thawing since mortgage rates have fallen for five straight weeks," NAR Economist Yun added. "The average monthly mortgage payment is now almost $200 less than it was several weeks ago when interest rates reached their peak for this year."
- Unsold inventory was unchanged at 3.3 months of supply at the current sales pace (3.5 months in seasonally adjusted terms), trending higher from the 2.1 months in Nov’21 but still off the 4 months averaged in 2019.
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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