Continued Washington Worries Drive Mortgage Stocks Lower

Another day of investors worrying about the situation in Washington plus when the Federal Reserve will finally start to taper led 13 of 17 members of the Mortgage Industry Equity Composite to close lower on Monday.

OceanFirst Financial was the largest gainer, up 5.12% over its close on Friday. Its volume was 216,009 shares traded, compared with an average of 46,386.

Ellie Mae was up 1.24%, followed by PennyMac Mortgage Investment Trust (0.72%) and Redwood Trust (0.51%).

On the other hand, KB Home was down 3.4%, followed by MGIC Investment Corp, down 2.68%, and CoreLogic, down 2.29%.