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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 fell -3.1% last week, with broadly equal declines in purchases (-3%) and refis (-4%) for the second week running.
- It comes as the 30Y conforming mortgage rate increased 16bps to 7.09% to push back within touching distance of its Oct’22 cycle high of 7.16%, with the spread to Treasury yields still sticky at the ~300bps mark.
- The level of purchase applications is just 3.5% above the Feb’23 cycle low, below which application levels were last seen in the 1990s.
MBA 30Y rate (white), 10Y Tsy yields (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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