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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
- MBA mortgage applications showed no sign of a bounce back in the week to Jun 2 despite the 30y conforming rate easing after abrupt increases.
- Composite applications fell -1.4% on the week (refis -1%, purchases -2%) whilst the 30Y conforming rate fell 10bps to 6.81% after a 43bp increase in the prior three weeks.
- In a minor sign of tightening standards, the jumbo loan rate was cut only 4bps to 6.74% with the spread of 7bps dipping to its lowest since late March/early April in what at the time had been seen as a sign of some spillover from the regional banking concerns.
MBA 30Y conforming rate (white) and jumbo equivalent (yellow) with spread in bottom panel (green)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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