Interest Rate Sensitive Stocks See Red (NYMT) (ARR) (PHM) (TOL)
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Thursday was difficult day for the mortgage REITs. The group is interest rate sensitive and stocks declined as US treasury held climbed, with 10-year yields nearing 2.9%.
New York Mortgage Trust (NYSE: NYMT) and ARMOUR Residential REIT (NYSE: ARR) led the pack, falling over 7%. Dynex Capital Inc. (NYSE: DX), CYS Investment (NYSE: CYS), Residential Mortgage, Inc. (NYSE: AMTG) and American Capital Mortgage Investment (Nasdaq: MTGE) all traded lower.
Homebuilder are also interest rate sensitive and PulteGroup, Inc. (NYSE: PHM) Toll Brothers (NYSE: TOL) and KB Home (NYSE: KBH) and DR Horton Inc. (NYSE: DHI) and related names declined.
New York Mortgage Trust (NYSE: NYMT) and ARMOUR Residential REIT (NYSE: ARR) led the pack, falling over 7%. Dynex Capital Inc. (NYSE: DX), CYS Investment (NYSE: CYS), Residential Mortgage, Inc. (NYSE: AMTG) and American Capital Mortgage Investment (Nasdaq: MTGE) all traded lower.
Homebuilder are also interest rate sensitive and PulteGroup, Inc. (NYSE: PHM) Toll Brothers (NYSE: TOL) and KB Home (NYSE: KBH) and DR Horton Inc. (NYSE: DHI) and related names declined.
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