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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 -1.8% in the week to Jul 21 but the details again showed a greater drag from purchases (-3% after -1%) and relative resilience for refis (-0.4% after +7%).
- The 30-year conforming mortgage rate held steady at 6.87% [white line] having dropped 20bps the prior week. It consolidates the decline off the early July high of 7.07% that came within 9bps of the Oct’22 high that was otherwise the highest since 2001, but is clearly still extremely elevated with a ~300bp spread to 10Y Treasury yields.
- The level of purchase applications continues to broadly trend sideways to slightly slower, close to lows since the late 1990s [green line].
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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