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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
- The 15bp drop in the Freddie Mac 30Y mortgage rate from 5.25% to 5.1% was the largest drop since Apr’20 as it follows the rolling over in Tsy yields.
- Mortgage rates are still up from 3.11% at end-2021 and at levels last seen in 2009, increasingly weighing on housing activity as evidenced by the April 17% slump in new home sales plus today’s 4% drop in pending home sales for the sixth consecutive monthly drop.
- Recall from yesterday: WELLS FARGO HAS FIRED DOZENS OF LOAN OFFICERS, INSIDER SAYS - bbg
Freddie Mac 30Y mortgage rate (yellow), 30Y Tsy yield (pink) and spread (red)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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