MIEC Stocks Mixed After Fed Minutes Show Taper Nearing

Stocks in this publication’s Mortgage Industry Equity Composite had a mixed reaction to the release of Federal Reserve minutes suggesting a decrease in the Fed’s rate-lowering bond purchases is in sight.

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Individual company index stock performance ranged from a gain of more than 1% on the day to a loss of more than 1%. The Dow ended the day down less than 1%.

A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Thursday would be worth about $43, according to this publication’s MortgageStats subsidiary. The index’s general trend has been stable to slightly higher this year.


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