Interest rate-sensitive mortgage stocks dipped Tuesday on a weak earnings report by Countrywide Credit Industries, but recovered in a broad market rally after the Federal Reserve's Open Markets Committee held off on raising rates further.

Countrywide said it had earned $100.6 million, or 87 cents per share, in its third quarter, which ended Nov. 30. Earnings per share were up 3% from the same period last year but down 4% from the prior quarter. They were in line with analysts' expectations, but those expectations had been lowered recently.

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