Mortgage Stocks Mostly in the Red Monday

Buyers rushed to purchase Radian Group’s stock on Monday as it priced down 3.36%, the highest decline among the mortgage stocks.

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Up to 10.7 million Radian stocks sold at discount.

Volume-wise Bank of America stock continues to be the biggest seller since the end of last week selling over 163.5 million shares priced down 0.25%.

Ellie Mae also traded down 3.12%. Nonetheless fewer bidders were ready to buy bringing the average volume of sales to 609,000.

Two other stocks saw relatively higher price decreases: PHH Mortgage 2.37% and Astoria Federal 2.33%.

With the exception of MGIC, by the end of the day all Mortgage Industry Equity Composite stocks were in the red.

Roughly 23.3 million MGIC stocks changed hands, up anywhere form 0.06% to 1.21%.


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