For the second day in a row, the member stocks of the Mortgage Industry Equity Composite moved in a different direction than the Dow Jones Industrial Average. On Tuesday, while the Dow was up 31 points, just five MIEC stocks closed higher than they did
The best performer on a percentage basis was PHH, up 0.74%, followed by Bank of America (up 0.69%) and Bank of Hawaii (up 0.52%).
KB Home on the other hand lost 4.05%. Redwood Trust was down 3.86%. And the two private mortgage insurers in the MIEC, MGIC Investment Corp. and Radian Group lost 2.8% and 2.7%, respectively, as there still might be some hangover regarding