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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 jumped a seasonally adjusted 16.8% last week.
- It was again driven by particularly strong refinancing activity (34.5% after 16%) which has jumped higher on the almost 50bp decline in 30Y mortgage rates over the past month (although the rate only dipped 1bp to 6.54% in the latest week).
- New purchase applications meanwhile increased 2.8% after 0.8% following an 8% cumulative decline over the prior three weeks.
- MBA’s VP and deputy chief economist Kan: “The refinance index also saw its strongest week since May 2022 and was 117% higher than a year ago, driven by gains in conventional, FHA, and VA applications."
- Putting the latest increases into perspective, it leaves purchases at 53% of 2019 levels and refis at 51%.
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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