Mortgage Stocks Zag on Friday

The stock market continued the zigzag pattern of the past few days on Friday, with the Dow Jones Industrial Average falling 106 points. In an echo of Wednesday and a reversal of Thursday, just two Mortgage Industry Equity Composite members finished higher.

Ellie Mae for the third day is one of those two, up 1.65%, while the other stock is KB Home up 0.37%.

PHH had the largest percentage loss, down 2.76%. Next was Dime Community, down 2.48% and then Redwood Trust, down 2.13%.

Fannie Mae and Freddie Mac each lost $0.31 and closed at $1.53 and $1.39 respectively.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Mortgage-Stocks-Zag-Friday-1036975-1.html

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