Housing Stocks Advance on Tuesday
The Dow Jones Industrial Average flirted with 14,000 on Tuesday as investor confidence returned to the market and that investor confidence helped to buoy the housing-related stocks which make up the Mortgage Industry Equity Composite.
Of the 17 members, 15 finished higher than they did on Monday, led by the much-maligned Bank of America, up 3.4%.
Another stock that has been either a big gainer or a big loser, MGIC Investment Corp., finished Tuesday up 2.54%.
Most MIEC stocks had a larger percentage gain than the DJIA, which was up 0.71%.
Those that fell below that threshold include PennyMac, up 0.53%, KB Home, up 0.46%, Home Loan Servicing Solutions, down 0.6%, and Ellie Mae, down 3.37%.