Mortgage Insurers Rallying as Monthly Cures Exceed New Delinquencies for First Time in Four Years (PMI, RDN, MBI, more)

Stocks in the Property & Casualty Insurance sector have jumped sharply today following data out of market-research company Mortgage Insurance Companies of America (MICA) which shows that the number of insured mortgage cures for the month of February exceeded the number of newly-defaulted mortgages for the first time in 4 years.

A total of 68,675 homeowners with privately-insured mortgages fell into delinquency last month, versus the 80,758 homeowners who caught up on overdue mortgages during February. To compare, MICA data for January showed 52,528 new defaults and 31,616 cures.

Around the sector:

• PMI Group (NYSE: PMI) up 23% to $5.59
  
• Radian Group (NYSE: RDN) up 9.4% to $15.99
  
• MGIC Investment (NYSE: MTG) up 8.5% to $10.99
  
• MBIA (NYSE: MBI) up 6.9% to $6.36
  
• Hartford (NYSE: HIG) up 2% to $28.60

You May Also Be Interested In

• 30-year mortgage rate dips to 6.65%, second weekly decline
• New York Fed raises Q3 2026 GDP forecast to 2.3%
• DOJ, TikTok settle for $400m in children's privacy suit - Axios