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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 unsurprisingly pulled back with a seasonally adjusted 10.1% decline in the week to Aug 16, payback after jumping 16.8% the week prior.
- Refis drove the move with -15.2%, but two strong increases including a 34.5% surge the week prior leaves refi applications more than 30% higher since the end of July.
- Purchases also saw a notable decline (-5.2% after 2.8%) for the sharpest weekly decline since February.
- Whilst refi applications have seen a sizeable boost from the >50bp decline in mortgage rates (30Y down another 4bps to 6.50% for its lowest since May 2023), purchase applications have shown no sign of uplift.
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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