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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 last week swiftly reversed the prior week’s climb, falling -5.7% (refis -8%, purchases -4.8%) after +6.3%.
- It doesn’t change much from a trend perspective: mortgage applications have bounced 15-20% from Feb lows but remain historically depressed [green line].
- It came as the 30Y conforming mortgage rate increased 9bps to 6.57% after -2bps [white line]. The spread over jumbo loans narrowed to 11bps for the tightest since the 4bps in late Mar/early April after bank stresses flared up, as the jumbo 30Y rate increased 13bps to 6.46%.
30Y conforming rate (white), 10Y Tsy yield (pink), spread to Tsys (red) and purchase applications level (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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