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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 increased 1.6% (sa) last week after 0.5%.
- New purchases outperformed refis for a third week running as they lag what had been a particularly sharp increase in refi activity on lower rates.
- Purchases are however still yet to claw back the -5.2% in the week to Aug 23 with a 0.9% and 3.3% increase since then.
- The 30Y conforming mortgage rate at 6.43% (-1bp) broadly stabilized having fallen ~85bps since recent high from April.
- Note that the spread to jumbo loans continues to imply some relative tightening, as it held at -30bps after the widening to -31bp the prior week.
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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