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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 fell a seasonally adjusted 3.9% last week and have now fully reversed a 16% jump back in early June.
- Purchase applications fell further (-1.5% after -4.0%) but refinance applications saw a greater decline with -7.2% after 0.3% the week prior and a particularly strong 15.2% the week before that had left refi activity at its highest since Aug 2022.
- Purchase applications continue to have seen little relief from the 30Y mortgage rate pulling back off recent highs, unchanged at 6.82% for its lowest since February.
- This recent rate easing still hasn’t really been reflected in jumbo loans though, where the rate of 7.07% (-2bps after +2bps) sees a regular-jumbo spread of -25bps remain at one of the most negative readings since late 2020/early 2021 in a potential sign of a tightening in lending conditions.
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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