Weak Jobs Report Helps Mortgage Stocks

Mortgage stocks are up as investors rejoiced in the news that the weak jobs report means even more delay to the start of the Federal Reserve’s taper.

Twelve stocks on the Mortgage Industry Equity Composite closed higher on Tuesday, with Bank of America remaining unchanged.

The four MIEC companies ending the day with a lower price are Ellie Mae, down 1.31%; Dime Community, down 0.88%; Hudson City Bancorp, down 0.76%; and Astoria Financial, down 0.22%.

KB Home had the largest percentage gain, up 3.74%, while PennyMac was up 1.79% and Home Loan Servicing Solutions was up 1.27%.