MNI BRIEF: Williams Is Confident Fed Getting Inflation Back To 2%

MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

Bundesbank SA Suggests Core / Services Momentum Slowing

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Mortgage Applications Slide As Refis Pull Back Sharply

US DATA
EM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsMetals bulletEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • MBA composite mortgage applications fell a seasonally adjusted -5.7% last week, more than reversing a 5.1% cumulative increase over the prior three weeks.
  • It came as refis tumbled -13.6% after a 17.5% cumulative increase, whilst purchase applications saw a third weekly decline with -1.1%.
  • The 30Y conforming mortgage rate increased 4bp as what had been a 28bp decline from the recent peak of 7.29% in late April leveled off.
  • The conforming to jumbo spread was unchanged at -17bps, continuing to hold at a typical level for those seen in 2024 to date.

91 words

To read the full story

Close

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.
  • MBA composite mortgage applications fell a seasonally adjusted -5.7% last week, more than reversing a 5.1% cumulative increase over the prior three weeks.
  • It came as refis tumbled -13.6% after a 17.5% cumulative increase, whilst purchase applications saw a third weekly decline with -1.1%.
  • The 30Y conforming mortgage rate increased 4bp as what had been a 28bp decline from the recent peak of 7.29% in late April leveled off.
  • The conforming to jumbo spread was unchanged at -17bps, continuing to hold at a typical level for those seen in 2024 to date.