Sector snap: mortgage insurers rebound

Mortgage insurers rebounded Tuesday afternoon, after several stocks in the sector hit new lows following a report showing that U.S. home prices fell in April at the fastest rate since 2000.

The Standard & Poor's/Case-Shiller home price index of 20 cities fell by 15.3 percent in April versus a year ago, according to Tuesday's report. All 20 metropolitan areas surveyed posted annual declines for the first time.

However, investors may see a slowing in the pace of monthly declines as a bright spot.

After hitting a new low of $7.30 earlier in the session, shares of MGIC Investment Corp. jumped 32 cents, or 4.2 percent, to $8.04.

Genworth Financial Inc. gained 48 cents, or 2.7 percent, to $18.53, after bottoming out at $17.84 earlier in the session. Shares have traded between $17.91 and $35.43 in the past 12 months.

Shares of Radian Group Inc. added 3 cents to $2.03, after hitting a new low of $1.81 in morning trading. Shares are down 96 percent from a high of $57.03 a year ago.

Old Republic International Corp. gained 2 cents to $12.92.