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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 Mortgage Bankers Association's weekly release showed further deterioration in US housing market activity in the week to Oct 20:
- The market composite index dropped -1.0%, vs -6.9% prior, to the lowest level since 1995.
- The home purchase application index also fell to the lowest level since 1995, down -2.2% vs -5.6% prior. The unadjusted purchase index is down 22% from the year-earlier level.
- Mortgage rates (30Y fixed) hit a post-2000 high, up 0.2pp on the week to 7.9% - the 7th consecutive weekly increase
- One brighter spot was the tick-up in the refinancing index (+1.8% vs -9.9% prior), from the lowest levels since January posted the week prior.
Source: MBA, BBG
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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