Dow Posts Another Large Gain

For the sixth day in a row, we have a triple digit movement in the Dow Jones Industrial Average, but up and down pattern was broken as it gained 138 points on Tuesday. At the same time, 13 of the 17 the Mortgage Industry Equity Composite stocks closed higher than they did on Monday.

While MGIC Investment Corp. had the highest percentage gain on the day at 3.04%, the big winner was likely Hudson City Bancorp, which was up 2.39%. But nearly 13.2 million shares of its stock changed hands on Tuesday as merger partner M&T Bank Corp. settled money laundering issues which had impacted the deal from going forward.

Fidelity National Financial lost 0.74%, followed by Radian, down 0.15%; PennyMac, down 0.09%; and KB Home, down 0.02%.