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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 edged -0.8% lower in the week to Sep 8 after -2.9% the prior week, with refis -5.4% but purchases +1.3% [note a correction from MNI headlines of -1% for purchases].
- The nudging higher in purchase mortgage applications came after falling to new lows since 1995 in the prior week.
- The overall decline comes as the 30Y conforming mortgage rate increased 6bps to 7.27%, back towards the 7.31% it saw at for two weeks for highs since Dec 2000. The spread to 10Y Treasury yields continues to hold around the 300bps trend mark.
30Y conforming mortgage rate (white), 10Y Tsy yield (pink), spread (red) and level of purchase mortgage 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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