Why AGNC Investment Stock Was Rising Today
AGNC Investment (NASDAQ: AGNC) surged 2.6% shortly after the opening bell today and then settled back down during morning trading. As of 12:30 p.m. ET, the stock was up 1.6% to $10.15 per share.
The major indexes were down slightly on Thursday, led by the Dow Jones Industrial Average, which was off about 250 points, or 0.7%, as of the same time.
AGNC Investment, a mortgage real estate investment trust (REIT), got a bump from some good news on Wednesday that was spiked with a little not-so-good news. The good news is that mortgage rates dropped again last week, as the 30-year fixed mortgage rate decreased to 6.49%, from 6.67% the previous week. Over the past four weeks, it has dropped 57 basis points.
Source Fool.com
