Jul

11

Mortgage Stocks Dive Again

Filed Under Mortgage News 
Email To A Friend Email To A Friend

Financial stocks, especially those tied to the mortgage industry, helped fuel a 237-point drop in the Dow Jones industrial average on Wednesday.

Freddie Mac’s shares plunged by $3.20, or 24%, on the day, closing at a new 52-week low of $10.26.

Fannie Mae’s shares fell $2.31, or 13%, to close at $15.31.

Bank of America, which recently closed on its acquisition of Countrywide Financial, saw its shares fall $1.48, or 6%, to close at $22.06.

Radian Guaranty’s shares fell by 18 cents, or 11%, to close at $1.53.

Analysts attributed Wednesday’s broad market decline to concern about a slowing economy, more bad debt at banks, and higher oil and commodity prices.

If you like what you read, subscribe to our daily email alerts
or RSS Feed or interest rate alerts. Thanks for visiting.

Related Posts

Comments

Leave a reply

:mrgreen: :| :twisted: :arrow: 8O :) :? 8) :evil: :D :idea: :oops: :P :roll: ;) :cry: :o :lol: :x :( :!: :?: