Mortgage Stocks Again Tumble as Investor Fears Return

The Dow Jones Industrial Average resumed making triple-digit movements on Monday, closing down 140 points as investors once again showed concern over the future of the Federal Reserves bond purchase plan. At one point during the day it was down 250 before rebounding after some of the fears were apparently eased.

Still, the day took its toll on the members of the Mortgage Industry Equity Composite, as 15 of the 17 members closed lower than they did last Friday.

The largest percentage declines were once again private mortgage insurance competitors Radian Group (down 6.62%) and MGIC Investment Corp. (down 5.25%) along with PennyMac, which was down 4.58%.

The only two gainers on the day were PHH, up 2.2%, and CoreLogic, up 0.91%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Mortgage-Stocks-Tumble-Investor-Fears-Return-1037152-1.html

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