PHH, Radian Lead Mortgage Stock Gainers
Both PHH and Radian Group gained nearly 2.2% on Thursday, making them the largest gainers among Mortgage Industry Equity Composite stocks.
For Radian, the gain follows a near 7% rise in its stock price on Wednesday. Direct competitor MGIC gained 1.4%, and for a second straight day set a 52-week high. Radian missed a new high by $0.04 per share.
In the past two days, both Radian and MGIC reported their delinquent loan inventories had declined, but they wrote less new insurance than they did in November.
There were 10 MIEC stocks which had a price increase and seven a decrease. The Dow Jones Industrial Average lost 18 points.
PennyMac Mortgage Investment Trust had a 1.2% drop in its stock price while Fidelity National Financial lost 1.1%.