Last year was downright awful for the mortgage space. To help combat rising inflation, the Federal Reserve aggressively hiked interest rates beginning in March and going throughout the year, which crushed mortgage originators and mortgage real estate investment trusts (REITs) alike.
As a result, many of the mortgage REITs saw their stock prices fall and their dividend yields reach eye-popping dividend levels. AGNC Investment (NASDAQ: AGNC) is one of the biggest mortgage REITs in the country and it is now trading with a yield in the mid-teens.
Does that make this stock a buy, or is it one to avoid?
Source Fool.com