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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 composite mortgage applications rose 6.3% last week (refis +10%, purchases +5%) after -1.2%.
- It was buoyed after the FOMC signalled a potential pause, which helped drive a marginal reduction in the 30Y confirming rate to 6.48% (-2bp), albeit still firmly in the middle of the range seen in the year to date.
- The level of purchase mortgages are almost 20% above February lows after some stabilization in the market but they remain historically depressed.
- No change in the jumbo loan spread of note, back up 2bps to 15bps.
30Y rate (white), 10Y Tsy yield (pink), spread (red) and level of mortgage 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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