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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 for the second consecutive week, by a seasonally adjusted -0.7% in the week to March 22, with purchases -0.2% and refis -1.6%.
- The pullback comes amid more elevated mortgage rates, with Jumbo 30Y rates at 7.14% (unch from the prior week) and conforming at 6.93% (down 4bp on the week but above the 6.84% two weeks earlier).
- Mortgage applications are up a little from recent lows, but but remain well below pre-pandemic levels.
- As to be expected, the uptick in mortgage rates to around 7% - after conforming 30Y rates had dipped as low as 6.71% in late December amid a more dovish outlook on Fed policy - continues to restrain overall mortgage activity.
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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