Unlike most mortgage stocks PennyMac Mortgage Investment Trust and Kaufman & Broad shares traded up on Friday.
News on productivity increases that allow wage rebounds without increasing inflation apparently bode well for real estate investment trusts operating in the mortgage market including PennyMac shows shares recovered from
Kaufman & Broad was the biggest gainer on Friday trading up 2.14% at $16.38 a share, also recovering from a 1.3% decline on Thursday when its stock sold for roughly $16.
Investor interest did not fluctuate much despite the price change keeping the average volume of shares changing hands on Friday to 4,850,810 down from 4,903,090 on Thursday.
PHH Mortgage also closed the day trading up 1.76% at $21.40.
