JAN 14, 2014 4:50pm ET

Most Mortgage Stocks Close Higher After Early Earnings Reports

Print
Reprints
Email

The majority of the industry stocks tracked by National Mortgage News closed higher on Tuesday even with the lukewarm mortgage-related 4Q13 results reported by JPMorgan Chase and Wells Fargo.

There were 11 Mortgage Industry Equity Composite members which were gainers on the day, led by Radian Group, up 2.7%. Bank of America, a competitor of Chase and Wells, was up over 2%, while MGIC Investment Corp. was up nearly 2%.

The Dow Jones Industrial Average gained 116 points.

Ellie Mae had the largest drop among the six MIEC stocks which closed lower than they did on Monday, losing nearly 4%. Redwood Trust saw a drop of over 2% in its stock price.

SWS Group continues its climb in the wake of the unsolicited bid from Hilltop Holdings. It closed today at $7.63 per share; Hilltop had bid $7 for the 76% of shares it does not control.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Twitter
Facebook
LinkedIn
Already a subscriber? Log in here
Please note you must now log in with your email address and password.