Most Mortgage Stocks Benefit from Investor Confidence

Most mortgage stocks benefitted from the general investor confidence in the stock market on Thursday.

The Dow Jones Industrial Average gained 128 points, the SP 500 closed above 1700 and 13 of the 17 members of the Mortgage Industry Equity Composite gained compared to their Wednesday close.

However, PHH, which one analyst rates as a stock investors should buy, tanked losing 7.37%. The other down stocks were KB Home (losing 1.69%), PennyMac (down 0.59%) and Redwood Trust (off 0.53%).

MGIC Investment Corp., once again led gainers, up 4.32%. Next was Astoria Financial, up 3.52%, and CoreLogic, up 3.15%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Most-Mortgage-Stocks-Benefit-Investor-Confidence-1037934-1.html

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