Most MIEC Stocks Increase Monday, with Two Exceptions


Fifteen stocks in this publications Mortgage Industry Equity Composite increased by as much as 4% Friday, but two companies shares lost roughly less than 1% of their value.

Ellie Mae fared best among industry stocks followed by Astoria Financial Corp., which had more than a 2% increase in value. Mortgage insurer MGIC Investment Corp. and builder KB Home were the two companies that experienced slight declines in value. The Dow ended the day up almost 1%.

A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Monday would be worth almost $44, according to this publications MortgageStats subsidiary. The indexs general trend has been stable to slightly higher this year.

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