Housing and mortgage finance stocks are leading in gains in early trading — well ahead of the Dow Jones and Nasdaq.
All except homebuilders and home improvement stocks.
The HW 30 — HousingWire’s proprietary index of stocks that drive housing — was up close to 1% in morning trading, while the Dow hovered at a 0.8% gain and the Nasdaq at 0.68%.
Leading the pack was Walter Investment Management (WAC) up 2.68% at 10:01 a.m. ET. Fellow nonbank Ocwen Financial Corp. (OCN) was up 2.07%.
Bank of America (BAC) was up 1.49% while JPMorgan Chase & Co. (JPM) was up 1.68%.
Builders were down. D.R. Horton (DHI) was down 1.52%, Lennar Corp. (LEN) was down 0.91%, Toll Brothers (TOL) was down 1.39% and Pulte Group (PHM) was down 1.19%.