Industry Stocks Drop Across the Board Tuesday


All the stocks in this publications Mortgage Industry Equity Composite lost value Tuesday, as did the Dow.

Redwood Trust fared best among industry stocks with an almost negligible loss in value far less than 1%. Mortgage insurer Radian experienced a similar and only slightly larger loss in value. The largest MIEC decline was less than 4%. The Dow lost less than 1% on the day.

A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Monday would be worth about $43, according to this publications MortgageStats subsidiary. The indexs general trend has been stable to slightly higher this year, but it has been slightly lower the past two days.

Leave a Reply