Home Sales News Affects Mortgage Stocks

Mortgage industry stocks closed mixed on Monday as investors reacted to news that pending home sales did not increase as much as forecast.

The Dow Jones Industrial Average gained 26 points and set yet another new record.

But just nine members of the Mortgage Industry Equity Composite reported a higher close than on Friday while eight closed lower.

Home Loan Servicing Solutions lost 1.6% while Radian Group was down slightly over 1%. CoreLogic gained 1.5%, while PennyMac Mortgage Investment Trust gained nearly 1% and PHH was up 0.9%,

Article source: http://www.nationalmortgagenews.com/dailybriefing/Home-Sales-News-Affects-Mortgage-Stocks-1040444-1.html

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