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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 bounced a seasonally adjusted 3.9% last week after two weeks down a combined -2.8%.
- The broad trend is still intact, with applications at 45% of 2019 levels vs ~40% in late May.
- That modest uplift has come as 30Y mortgage rates have fallen from a peak of 7.29% in late April to recent averages a little below 7% (it most recently fell from 7.00% to 6.87%, the lowest since early March).
- The breakdown of applications was particularly mixed in the latest week though, with refis jumping 15% (to the highest level since Aug’22 but only to 35% of 2019 levels) in contrast to purchase applications -2.7% (54% of 2019 levels).
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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