US MBA Mortgage Refinance Index Falls as HSBC Raises European Stock Targets
Newsquawk ·
The US MBA Mortgage Refinance Index for the week of September 18 printed at 611.0, pulling back from the previous reading of 627.1. In European markets, HSBC revised its year-end 2026 forecasts upward, lifting the Stoxx 600 index target to 680 from 670, and the FTSE 100 target to 11,390 from 10,980. Meanwhile, energy projections from Russia showed downward revisions for 2026. Moscow lowered its natural gas production outlook to 683.1bcm compared to the prior 688.4bcm, and trimmed its liquefied natural gas export expectation to 35 million tonnes from the earlier estimate of 40.3 million tonnes.
AI 시장 분석
The US mortgage refinancing index fell from 627.1 to 611.0 in the previous week, reflecting a slowdown in mortgage demand. Meanwhile, HSBC raised its 2026 year-end price targets for the Stoxx 600 and FTSE 100, presenting an optimistic outlook for European equities. Russia lowered its 2026 natural gas production forecast to 683.1bcm and LNG export forecast to 35 million tons. Investors should closely monitor housing market trends amid interest rate fluctuations and the upside potential of European stocks.
상승 영향
- European Equities — HSBC raised the Stoxx 600 target to 680 and the FTSE 100 to 11,390, which will improve investment sentiment.
- Natural Gas — Russia's downward revisions to its 2026 gas production and LNG export forecasts will raise supply shortage concerns and support prices.
하락 영향
- Real Estate — The US MBA mortgage refinancing index dropped to 611.0 compared to the previous week, confirming a contraction in mortgage and refinancing demand.
DYAX 전담 분석
The decline in the US mortgage refinancing index reflects reduced loan demand due to prolonged high interest rates, weighing on housing-related consumer sentiment. Conversely, HSBC's upward revision of European major index targets boosts expectations for global capital inflows into European markets. Russia's downward revision of gas and LNG forecasts suggests supply contraction and could stimulate energy price volatility.
The bullish scenario involves the sustained rally of European equities and energy price stabilization, whereas the bearish scenario features a housing sector downturn due to sluggish mortgages and intensified energy supply disruptions from Russia. Key indicators to watch are US mortgage rate trends and European economic data.
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