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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 saw little material change in the week to Apr 28, with composite activity -1.2% as purchases weighed (purchases -2%, refis +1%).
- A small drop in the 30Y conforming rate from 6.55% to 6.50% did little to support purchases.
- A similar 3bp decline to 6.37% for jumbo loans meant no significant compression in the spread having been closer to 0bps in late March in what had been seen at the time as a sign of further credit tightening.
- The data do however miss the latest flare up in regional banking woes seen this week led by PacWest and Western Alliance.
MBA 30Y conforming mortgage rate (white) and for jumbo loans (yellow). Spread (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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