Most mortgage stocks benefitted from the general investor confidence in the stock market on Thursday.
The Dow Jones Industrial Average gained 128 points, the S&P 500 closed above 1700 and 13 of the 17 members of the Mortgage Industry Equity Composite gained compared to their
However, PHH,
MGIC Investment Corp., once again led gainers, up 4.32%. Next was Astoria Financial, up 3.52%, and CoreLogic, up 3.15%.
The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.
