Mortgage Insurers Rise on Expanding Opportunity (RDN) (MTG)
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Following stronger housing data today, at least two non-home building companies are getting some positive attention.
Both Radian Group (NYSE: RDN) and MGIC Investment (NYSE: MTG) are positive today, up over two percent apiece, on the improving outlook. More homes being built will lead to more buyers and more opportunity for the two to offer mortgage insurance to lenders.
Old Repubic (NYSE: ORI) and Genworth Financial (NYSE: GNW) is also up today.
New home starts were up 954,000 in December, versus the consensus of 889,000. Building permits rose 903,000, compared with expectations of a 900,000 gain.
Both Radian Group (NYSE: RDN) and MGIC Investment (NYSE: MTG) are positive today, up over two percent apiece, on the improving outlook. More homes being built will lead to more buyers and more opportunity for the two to offer mortgage insurance to lenders.
Old Repubic (NYSE: ORI) and Genworth Financial (NYSE: GNW) is also up today.
New home starts were up 954,000 in December, versus the consensus of 889,000. Building permits rose 903,000, compared with expectations of a 900,000 gain.
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