Mortgage Stocks Benefit From Market Rally on Tuesday
The day after investors punished Radian Group for posting a fourth-quarter and full-year 2012 loss, it was the leading gainer by percentage among Mortgage Industry Equity Composite stocks on Tuesday.
All told, seven stocks closed more than one percentage point higher than they did on Monday, led by Radian’s 5.99% improvement. It was followed by KB Home, up 5.76%; MGIC, up 4.07%, and Bank of America, up 3.25%.
On a day where the Dow Jones Industrial Average broke back through the 14,000 level, only five MIEC stocks finished in the red. The company with the largest percentage loss was CoreLogic, down 0.45%.