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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 mortgage applications rose 2.9% last week (purchases 2%, refis 5%) for the fourth straight weekly increase.
- It came along with a small further decline in the 30Y conforming mortgage rate from 6.48% to 6.45%, over a period when the average 10Y Tsy yield fell from 3.545% to 3.47%.
- Being applications and not origination, it doesn’t give a true picture of latest developments in lending conditions. However, a price component via the mortgage rate at least hasn’t tightened materially in a second week capturing regional banking woes (albeit from already elevated spreads to Tsy yields).
MBA 30Y rate (white), 10Y Tsy yield (pink) and spread (red), plus level of purchase applications (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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