Shutdown Does Not Affect Mortgage Stocks

If mortgage stock investors were worried about the impact the government shutdown would have, they did not show it on Tuesday. All but three of the Mortgage Industry Equity Composite stocks closed higher on the day. The Dow Jones Industrial Average gained 62 points.

The three stocks that closed lower when compared with Monday: OceanFirst Financial, down 1.06%, Fidelity National Financial, down 0.19%, and Radian Group, down 0.14%.

Home Loan Servicing Solutions was up 3.73%, while KB Home gained 2.22% and PennyMac Mortgage Investment Trust closed 1.94% higher.

Non-MIEC member Walker Dunlop lost an astounding 19.17% from its previous close (or $3.05) as the company said its commercial loan origination volume for 3Q13 would come in under its previous guidance.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Shutdown-Not-Affect-Mortgage-Stocks-1039161-1.html

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