Twelve of the 15 mortgage-related stocks tracked by MortgageWire were down Friday as the Dow Jones industrial average fell 315 points to close at 12,266. The biggest loser was Kaufman & Broad, the parent of homebuilder KB Home, which saw its stock price fall by 7.1% on the day, dropping $1.82 to $23.93 per share. PMI Mortgage Insurance fell 6.8%, or $0.53 per share, to close at $7.27, and Franklin Bank's stock slid 6.1%, or $0.25, closing at $3.84. Also hit with declines of more than 5% were Washington Mutual, down 5.9%, and Doral Financial, down 5.7%. Freddie Mac was one of the three mortgage-related stocks tracked by MortgageWire that bucked the trend by gaining ground on the day, closing up 2.8%. The other gainers were LandAmerica Financial Group, up 5.3%, and Fidelity National, up 2.2%. As of midday Monday, the Dow was down less than 20 points.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28