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Earnings per Share (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Basic earnings per share [Abstract]    
Net income $ 133,076us-gaap_NetIncomeLoss $ 59,982us-gaap_NetIncomeLoss
Weighted average common shares outstanding (in shares) 339,107,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 338,213,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Basic income per share (in dollars per share) $ 0.39us-gaap_EarningsPerShareBasic $ 0.18us-gaap_EarningsPerShareBasic
Diluted earnings per share [Abstract]    
Net income 133,076us-gaap_NetIncomeLoss 59,982us-gaap_NetIncomeLoss
Diluted income available to common shareholders 149,582us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted 63,031us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted
Weighted-average shares - Basic (in shares) 339,107,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 338,213,000us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Effect of dilutive securities [Abstract]    
Weighted-average shares - Diluted (in shares) 468,141,000us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 413,180,000us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Diluted income per share (in dollars per share) $ 0.32us-gaap_EarningsPerShareDiluted $ 0.15us-gaap_EarningsPerShareDiluted
Antidilutive securities (in shares) 0us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount 54,500,000us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5% Convertible Senior Notes due 2017 [Member]    
Effect of dilutive securities [Abstract]    
Dilutive securities 4,692us-gaap_DilutiveSecurities
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleDebtMember
0us-gaap_DilutiveSecurities
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleDebtMember
Dilutive securities (in shares) 25,670,000us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleDebtMember
0us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleDebtMember
2% Convertible Senior Notes due 2020 [Member]    
Effect of dilutive securities [Abstract]    
Dilutive securities 3,049us-gaap_DilutiveSecurities
/ us-gaap_LongtermDebtTypeAxis
= mtg_ConvertibleSeniorNotesDueApril2020Member
3,049us-gaap_DilutiveSecurities
/ us-gaap_LongtermDebtTypeAxis
= mtg_ConvertibleSeniorNotesDueApril2020Member
Dilutive securities (in shares) 71,942,000us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
/ us-gaap_LongtermDebtTypeAxis
= mtg_ConvertibleSeniorNotesDueApril2020Member
71,942,000us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
/ us-gaap_LongtermDebtTypeAxis
= mtg_ConvertibleSeniorNotesDueApril2020Member
9% Convertible Junior Subordinated Debentures due 2063 [Member]    
Effect of dilutive securities [Abstract]    
Dilutive securities $ 8,765us-gaap_DilutiveSecurities
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleSubordinatedDebtMember
$ 0us-gaap_DilutiveSecurities
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleSubordinatedDebtMember
Dilutive securities (in shares) 28,853,000us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleSubordinatedDebtMember
0us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_ConvertibleSubordinatedDebtMember
Restricted stock units [Member] | Unvested restricted stock units [Member]    
Effect of dilutive securities [Abstract]    
Dilutive securities (in shares) 2,569,000us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
/ us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis
= us-gaap_RestrictedStockUnitsRSUMember
/ us-gaap_LongtermDebtTypeAxis
= mtg_UnvestedRestrictedStockUnitsMember
3,025,000us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
/ us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis
= us-gaap_RestrictedStockUnitsRSUMember
/ us-gaap_LongtermDebtTypeAxis
= mtg_UnvestedRestrictedStockUnitsMember