Mortgage Stocks Have OK Day on Friday

Even though the Dow Jones Industrial Average fell by 114 points on Friday, the members of the Mortgage Industry Equity Composite seem to hold their own. There were seven of the 17 stocks which finished higher than their Thursday close and of the 10 that did drop, all but three were for under one percentage point.

But two of those three were MGIC Investment Corp., and the Radian Group, which declined 3.5% and 3.01%, respectively. Earlier in the day, the Mortgage Insurance Cos. of America released its May data which showed its members had the best month of the year so far for primary new insurance written.

The third was Bank of America, down 1.15%.

OceanFirst Financial gained 2.24%, followed by Astoria Financial at 0.56% and Fidelity National Financial at 0.42%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Mortgage-Stocks-OK-Friday-1037257-1.html

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