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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 increased 2.5% in the week to Nov 3, with similar increases across both purchases (3%) and refis (2%).
- It was helped by a large 25bp decline in the 30Y conforming mortgage rate to 7.61%, down from 7.86% and the 7.90% the week before that which had marked fresh cycle highs at levels last seen in 2000.
- It’s the largest single weekly decline in the mortgage rate in over a year, although the rate only drops back to end-Sept levels.
- The spread to 10Y Treasury yields remains around the 300bp mark.
MBA 30Y contract rate (white), 10Y Tsy yield (pink), spread (red) and level of purchase applications (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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