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MGIC Leads Mortgage Insurer Gain on Sales Jump, Housing Data
- Radian, Essent, Genworth also advance in New York trading
- Sales rise 10% in second quarter as claims costs decline
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MGIC Investment Corp. led a rally of mortgage insurers after the company posted a sales gain, and U.S. housing starts rose more than forecast.
MGIC jumped 6.7 percent to $6.81 at 4:15 p.m. in New York, the biggest one-day gain since March, while Radian Group Inc. climbed 1.2 percent. Essent Group Ltd. increased 0.3 percent and Genworth Financial Inc. rose 0.7 percent.