Mortgage Stocks Show Mixed Results on Friday
MGIC Investment Corp. remains the Mortgage Industry Equity Composite stock with the most shares changing hands (outside of Bank of America). On Friday, it was also the biggest percentage decliner, off 1.53% from Thursday’s close.
While the Dow Jones Industrial Average improved, reflecting less worry over Cyprus, the MIEC was mixed, with nine stocks increasing price, six stocks down and two unchanged.
KB Home was down 1.49% and CoreLogic, down 1.40%.
Top gainer was Ellie Mae, up 3.24%, followed by Radian at 1.68% and Fidelity National Financial at 1.49%.
Meanwhile, Fannie Mae and Freddie Mac are still seeing significant activity from investors, but on Friday, Fannie Mae only gained $0.01 per share, while Freddie Mac was unchanged from its Thursday close.