Hopes and Doubts on the Home Front

Housing stocks seemed to be rolling over for a moment last week as the markets reacted negatively to messages from the Federal Reserve and Chairman Ben Bernanke. Reaction to the central bank's statements on quantitative-easing tapering and anti-exuberance, some now say, were misimpressions. Nonetheless, Radian (RDN), the early-recovery bet among the high-beta mortgage insurance (MI) stocks, took a big hit, dropping 20% from its mid-May highs. Shares of SPDR S&P Homebuilders (XHB) lost 12%, while iShares Dow Jones US Home Construction (ITB) shed 15% of its share price.

So is the housing story done? How about mortgage finance?...1080 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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