Mortgage REITs such as Annaly, American Capital Agency, Armour Residential, and Hatteras have struggled recently due to a rapid rise in interest rates. Data from mortgage-finance company Freddie Mac has shown that average U.S. mortgage rates declined slightly for the week ended Thursday. The 30-Year fixed-rate mortgage averaged 4.42 percent, down from 4.46 percent a week prior, and up from 3.32 percent a year ago. 30-Year Fixed-Rate Mortgages averaged approximately 4.16 percent in early-November. Here is how some Mortgage REITs reacted Thursday:
ARMOUR Residential REIT, Inc. (NYSE: ARR) shares traded in the range of $3.71 to $3.79 Thursday before settling to close at $3.76, an increase of 0.27 percent. The stock appears to be facing some resistance at the $3.78 and $3.83 levels with some support at $3.74. Shares of ARMOUR Residential REIT have fallen approximately 40.0 percent year-to-date.
More information on ARMOUR Residential REIT and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ARR
CYS Investments Inc. (NYSE: CYS) shares traded in the range of $7.51 to $7.69 Thursday before settling to close at $7.63, a decrease of 0.26 percent. The stock appears to be facing some resistance at the $7.61 and $7.79 levels with some support at $7.48. Shares of CYS Investments have fallen approximately 35.0 percent year-to-date.
More information on CYS Investments and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CYS
Invesco Mortgage Capital Inc. (NYSE: IVR) shares traded in the range of $14.75 to $14.97 Thursday before settling to close at $14.92, an increase of 0.27 percent. The stock appears to be facing some resistance at the $15.17 and $15.60 levels with some support at $14.89. Shares of Invesco Mortgage Capital have fallen approximately 24.0 percent year-to-date.
More information on Invesco Mortgage Capital and access to the free equity report can be found at:
www.WallStreetFundamentals.com/IVR
Two Harbors Investment Corp. (NYSE: TWO) shares traded in the range of $9.08 to $9.15 Thursday before settling to close at $9.11, a decrease of 0.22 percent. The stock appears to be facing some resistance at the $9.20 and $9.33 levels with some support at $9.06. Shares of Two Harbors Investment have fallen approximately 17.0 percent year-to-date.
More information on Two Harbors Investment and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TWO
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