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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 increased 2.8% in the week to Nov 10 to build on the prior week’s 2.5% for the first two consecutive weekly increase since July.
- It was broadly based across purchases (+3%) and refis (+2%).
- The 30Y conforming mortgage rate was unchanged at 7.61%, holding the almost 30bp decline from the late October cycle high of 7.90%.
- This could be due a further decline if yesterday’s post-CPI rally in 10Y yields is maintained (currently 4.465%) and the spread holds at circa 300bps.
MBA 30Y rate (white), 10Y Tsy yield (pink), spread (red) and level of MBA 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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