Stocks Gain on Shutdown's Possible End

Mortgage Industry Equity Composite stocks got a boost when it was announced the U.S. Senate had a deal to end the shutdown. All but two of the 17 member stocks closed higher on Wednesday.

Ellie Mae was one of the leading decliners on the overall market, down 6.48% and a trading volume of 3 million shares above its average. CoreLogic was unchanged from Tuesday.

MGIC Investment Corp.’s reporting of a second consecutive profitable quarter helped to drive its share price to a 52-week during the trading day. It closes up 14.74%, with volume of nearly 43 million shares traded. Its daily average is 8 million.

Business rival Radian Group ended the day up 7.67%.

Bank of America closed 2.25% higher, even as it reports lower origination volume and a smaller pipeline.