Mortgage Insurers Once Again Market Darlings

This is getting to be all too common; the best two performing stocks in the Mortgage Industry Equity Composite on Tuesday were once again mortgage insurance industry competitors MGIC Investment Corp. and the Radian Group.

On a day where the Dow Jones Industrial Average set a new record, only one MIEC stock closed lower than it did on Monday. That was Bank of Hawaii, down 0.11%, and that might have been some profit taking as during the day this stock did approach its 52-week high.

MGIC on the other hand hit a new 52-week high at $5.37 per share during the day, before falling back to $5.34. It was in August that MGIC’s stock price closed under $1 per share for two days. On a percentage basis, MGIC closed up 27.75%.

Radian traded above its previous 52-week all day and closed at $10.49, up 6.28%.

CoreLogic had the third biggest gain by percentage, up 2.56%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/mortgage-insurers-once-again-market-darlings-1034918-1.html

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