Mortgage Stocks Rally for Third Day

Mortgage & Real Estate

The Wall Street rally continued for a third day on Thursday as the Dow Jones Industrial Average gained 114 points. There were just two members of the Mortgage Industry Equity Composite which closed lower compared with Wednesday.

One of those was KB Home, which reported earnings earlier in the day. It was off 0.97%, while PHH was down 0.88%.

Meanwhile, four stocks gained more than 4% from their Wednesday closing price: Radian, 5.25%; OceanFirst Financial, 4.54%; MGIC Investment Corp., 4.49%; and Ellie Mae, 4.48%.

Even Fannie Mae and Freddie Mac turned things around, with gains of nearly 18% for both.

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