LNG: Golden Pass LNG Delayed Until Late 2025
Aug-02 11:09
ExxonMobil and QatarEnergy have delayed the start of its Golden Pass LNG project in Texas, until late 2025 due to a contractor dispute according to its CFO Kathy Mikells.
- The lead contractor, Zachry Holdings has declared bankruptcy. The bankruptcy decision now allows the project to progress after being stuck at an impasse.
- The delay is about 6 months later than previously planned.
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US DATA: Mortgage Applications Reverse Latest Increase As Rates Tick Back Above 7%
Jul-03 11:07
- MBA composite mortgage applications fell a seasonally adjusted 2.6% last week.
- It more than reverses the prior two weekly gains although only chips away at the 15.6% jump three weeks ago.
- The latest decline was led by purchases (-3.3%) compared to refis (-1.5%) after purchases outperformed the previous two weeks.
- The downward pressure on applications came as the 30Y conforming rate increased 10bps to 7.03% after two weeks just under the 7% handle.
- Having shown some sign of relative tightening in mid-May to mid-June, the regular-jumbo spread has increased to -8bps for its joint highest reading of the year-to-date.
MNI: US MBA: MARKET COMPOSITE -2.6% SA THRU JUN 28 WK
Jul-03 11:00
- MNI: US MBA: MARKET COMPOSITE -2.6% SA THRU JUN 28 WK
US MBA: REFIS -2% SA; PURCH INDEX -3% SA THRU JUNE 28 WK
Jul-03 11:00
- US MBA: REFIS -2% SA; PURCH INDEX -3% SA THRU JUNE 28 WK
- US MBA: UNADJ PURCHASE INDEX -12% VS YEAR-EARLIER LEVEL
- US MBA: 30-YR CONFORMING MORTGAGE RATE 7.03% VS 6.93% PREV
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