Most Industry Stocks Gained Monday

Most stocks in this publication’s Mortgage Industry Equity Composite gained in value on the day Monday as the Dow inched up to another new high, but there were exceptions.

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Individual MIEC companies’ equity performance ranged from a gain of more than 3% at Ocean First Financial Corp. to a loss of almost 2% in stock value at builder KB Home. Three other mortgage-related companies on the index also took losses on the day, although these declines were closer to 1% or less. The Dow’s value barely changed at all.

A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Monday would be worth rough $43-$44, according to this publication’s MortgageStats subsidiary. The index’s general trend has been stable to slightly higher this year.


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