(Reuters) – Mortgage insurer MGIC Investment Corp posted a smaller-than-expected quarterly loss as fewer U.S. homeowners defaulted in a recovering housing market.
MGIC shares rose 2.4% to $9.30 in premarket trading.
Rising house prices mean fewer homeowners have loans that exceed the value of their property, reducing delinquencies.
The percentage of MGIC's loans that were delinquent, excluding bulk loans, fell to 8.92% as of Dec. 31 from 11.87 percent a year earlier.
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