Mortgage Stocks Rally for Third Day

The Wall Street rally continued for a third day on Thursday as the Dow Jones Industrial Average gained 114 points. There were just two members of the Mortgage Industry Equity Composite which closed lower compared with Wednesday.

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One of those was KB Home, which reported earnings earlier in the day. It was off 0.97%, while PHH was down 0.88%.

Meanwhile, four stocks gained more than 4% from their Wednesday closing price: Radian, 5.25%; OceanFirst Financial, 4.54%; MGIC Investment Corp., 4.49%; and Ellie Mae, 4.48%.

Even Fannie Mae and Freddie Mac turned things around, with gains of nearly 18% for both.


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