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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 fell -5.6% last week for the third weekly decline and following a heavy -10.6% the week prior.
- After some disconnect between purchases and refis in Jan and early Feb, the two have recently more in unison, with purchases -4.5% after -10.1% and refis -7.3% after -11.4%.
- The latest declines have come with the pick-up in mortgage rates. The 30Y conforming rate was little changed on the week at 7.04% (-2bp) but having stepped higher from the 6.8% averaged through mid-Dec to early Feb.
- It sees the level of purchase applications drop close to October levels which marked lows since the mid-1990s.
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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