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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
- MBA mortgage purchase applications in the week ending May 6 rose for the second week running despite rates cranking higher.
- The 30Y average mortgage rate jumped 17bps to 5.53%, a new high since May’09 and prior to that Nov’08, mirroring the latest 17bp rise in the Freddie Mac 30Y rate of 5.27% after the week before.
- Whilst continued new borrowing at these higher rates could hurt household balance sheets, yesterday's NY Fed report on household debt for Q1 showed it's starting from healthy base, with loan delinquency extremely low by historic standards and not really rising.
MBA 30Y contract rate (yellow), 30Y Tsy yield (pink) and MBA purchase applications index (red) 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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