Mortgage Stocks Outperform Market

Mortgage stocks outperformed the broader stock market on Thursday, led by private mortgage insurers Radian Group and MGIC Investment Corp.

The Dow Jones Industrial Average lost 104 points on the day. But 10 Mortgage Industry Equity Composite stocks closed higher, four lower and three unchanged.

Radian and MGIC both got a boost from Goldman Sachs from a report continuing to recommend both companies. Radian closed nearly 3.6% higher than on Wednesday, while MGIC was up almost 2%. PHH was up 1.7%.

All four of the stocks which closed lower, OceanFirst Financial, Redwood Trust, Fidelity National Financial and Ellie Mae, lost less than 1%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Mortgage-Stocks-Outperform-Market-1040257-1.html

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