Mortgage REITs have fallen sharply on concerns that positive economic data would trigger the Federal Reserve to slow down its $85 billion in monthly bond purchases. On Friday, the Labor Department reported the U.S. added 195,000 jobs in June sending the yield on 10-year Treasury notes to a high of 2.719 percent, the highest since August 2011. "Mortgage REITs are very susceptible to the risk of rising short-term rates. Until recently, mortgage REITs have benefited from the Fed’s easy money policy. The Fed’s historically low near-zero interest rate makes financing cheap, allowing mortgage REITs to use leverage to provide an attractive yield. However, because these firms are so extensively leveraged, they are very susceptible to interest-rate fluctuations," said Morningstar ETF analyst Abby Woodham.
ARMOUR Residential REIT, Inc. (NYSE: ARR) shares traded in the range of $4.38 to $4.47 Thursday before settling to close at $4.46, an increase of 1.83 percent. The stock appears to be facing resistance at the $4.72 and $4.87 levels with some support at $4.40. Shares of ARMOUR Residential have fallen approximately 30.0 percent over the past three months.
More information on ARMOUR Residential and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ARR
Chimera Investment Corp. (NYSE: CIM) shares traded in the range of $2.95 to $2.98 Thursday before settling to close at $2.96, an increase of 0.36 percent. The stock appears to be facing resistance at the $2.98 and $3.04 levels with some support at $2.90. Shares of Chimera Investment have fallen approximately 10.0 percent over the past three months.
More information on Chimera Investment and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CIM
Invesco Mortgage Capital Inc. (NYSE: IVR) shares traded in the range of $15.47 to $15.75 Thursday before settling to close at $15.74, an increase of 1.81 percent. The stock appears to be facing resistance at the $16.00 and $16.82 levels with some support at $15.15. Shares of Invesco Mortgage Capital have fallen approximately 26.0 percent over the past three months.
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 $9.64 to $9.88 Thursday before settling to close at $9.85, an increase of 1.86 percent. The stock appears to be facing resistance at the $10.05 and $10.42 levels with some support at $9.61. Shares of Two Harbors Investment have fallen approximately 20.0 percent over the past three months.
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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