Stocks Down as Shutdown Continues

The stock market pessimism on Tuesday extended to real estate finance stocks. All but two members of the Mortgage Industry Equity Composite closed lower as investor sentiment cooled with no end to the shutdown in sight.

Redwood Trust gained 2.13% as UBS gives the real estate investment trust a buy recommendation. Astoria Financial is up 0.62% as the stock breaks its 52-week high.

MGIC Investment Corp., which announces its 3Q13 results tomorrow morning, is down 4.35%. KB Home is down 3.19%, while Radian Group closes 2.33% lower.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Stocks-Down-Shutdown-Continues-1039408-1.html

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