Bear Market Pulls Down Mortgage Stocks


The stock market had a bear day on Monday, as equities suffered as gold and other commodities declined in price and then trading was further impacted by two blasts near the Boston Marathon. The Dow Jones Industrial Average closed nearly 266 points lower.

All 17 Mortgage Industry Equity Composite stocks were down compared with their Friday close.

The best performing stock was Home Loan Servicing Solutions, and that was down 1.39%.

The negative news over homebuilder sentiment affected KB Home, which had the biggest percentage loss on the day, off 6.42%. It was followed by Radian Group, which last Thursday hit a 52-week high in its stock price. Monday it was down 6.36%.

PennyMac closed 4.85% lower.

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