Free Trial
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 dipped -1.3% last week (sa) after two particularly strong refi-driven increases of 11% and 14.2%.
- Refis were -2.9% after 20.3% and 24.2% whilst new purchase applications increased for a sixth consecutive week with 0.7% after 1.4% (for a cumulative 14% increase).
- Refi applications have still increased more than 100% since July but are only to 63% of average 2019 levels, whereas new purchase applications have only increased 3.5% over the same period and are at 58% of 2019 levels.
- The 30Y conforming mortgage rate has levelled off at around 6.14% (a 1bp increase in the latest week after -2bps before that) for a 115bp decline since the April recent high of 7.29%.
- There remains some relative tightening though with the jumbo rate increasing 3bps after 6bps, pushing the conforming to jumbo spread lower still to -36bps (lowest since Jun 2020).
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok