The past year has been awful for investors looking at stocks having almost anything to do with housing. Homebuilders struggled with rising costs and mortgage rates, mortgage originators have seen a collapse in origination volume, and mortgage real estate investment trusts (REITs) have seen book values decline as rates rise. If you believe the futures index on the direction of the Federal Funds Rate, the Federal Reserve's tightening campaign is in the late innings, and we might be at the point of maximum pain for the sector.

As a result of all this, Annaly Capital Management (NYSE: NLY) stock was beaten up along with the rest of the mortgage REIT sector, and now sports a whopping 16.4% dividend yield. Is that yield real, and more importantly, is it sustainable?

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Source Fool.com