Mortgage Stocks Swept Up in Sell-Off

The stocks of mortgage-related companies joined the rest of the market in a broad sell-off on Wednesday, May 17.Inflation fears were credited with sparking a 214 point, or 1.88%, drop in the Dow Jones Industrial Average. Of 21 mortgage-related stocks tracked by this online publication, 16 saw price declines for the day. The largest losses affected shareholders in nonprime lender New Century, down 4.53%, and builder KBH, down 2.68%. Other companies whose stock price declined by more than 2% included Centex, Countrywide Financial, Fannie Mae, Fiserv, and Fidelity National Financial.

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