AGNC Stock Price Falls Below $10 as Rising Treasury Yields Hit Mortgage REITs
AGNC Investment Corp. dropped to $9.75 by Friday’s close, slipping 5.3% after a jolt in Treasury yields rattled mortgage REITs. Annaly Capital Management slid 5.2%. ARMOUR Residential REIT gave up 6.6%. The decline is notable given AGNC’s structure as a mortgage REIT, holding mostly agency residential mortgage-backed securities—bonds backed by Fannie Mae, Freddie Mac, or Ginnie Mae—and relying heavily on repurchase agreements for funding. That setup can boost returns, but it also makes the stock more vulnerable to moves in long-term rates and shifts in mortgage-bond values.
