Mortgage Stocks Strong on Monday

While the Dow Jones Industrial Average gained a measely two points on Monday, 13 of the 17 Mortgage Industry Equity Composite stocks ended the day closing higher than they did on Friday.

The biggest gainers on a percentage basis were Redwood Trust, up 1.23%; Bank of America, up 1.15%; and OceanFirst Financial, up 1.05%. Bank of Hawaii, which was profitable in 2Q13 although both its net and mortgage income were down, gained 0.93%.

At the other end of the spectrum, Ellie Mae lost 3.97%. Next was KB Home, down 2.36%; MGIC Investment Corp., down 1.48%; and PHH, down 0.63%.