And the Mortgage Industry Equity Composite was caught up in the euphoria as all 17 stocks finished above Wednesdays close.
KB Home was the best performing stock on a percentage basis, up 6.69%, followed by Ellie Mae, up 4.86%. The private mortgage insurers, Radian Group and MGIC Investment Corp. were next, up 4% and 2.76%, respectively.
The stock with the lowest percentage gain was Hudson City Bancorp, at 0.12%. It was also the third most heavily traded MIEC stock on the day, behind Bank of America and MGIC.