Taper Announcement Boosts Most Mortgage Stocks

Mortgage stocks got a boost from the announcement Wednesday afternoon that the Federal Reserve was looking to start its taper program.

All but one of the 17 members of the Mortgage Industry Equity Composite closed higher than they did on Tuesday. The stock price of the lone loser, Ellie Mae, got a boost from the announcement as well, but not enough to keep it from reporting a 0.11% loss on the days trading.

Bank of America, Fidelity National Financial and KB Home all gained more than 3% over their Tuesday closing prices.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Taper-Boosts-Mortgage-Stocks-1040327-1.html

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