SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Jul 6, 2012) - High yielding mortgage REITs have outperformed the markets in 2012 as investors continue to flock to their large dividends. Presently the Market Vectors Mortgage REIT Income ETF (MORT) -- with holdings such as Annaly Capital Management -- is up more than 14 percent year-to-date, while the SPDR S&P 500 ETF (SPY) has seen a 9 percent increase. The Paragon Report examines investing opportunities in diversified REITs and provides equity research on Chimera Investment Corp. (NYSE: CIM) and Two Harbors Investment Corp. (NYSE: TWO).
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Freddie Mac's weekly survey has shown mortgage rates have again fallen to record lows. The fixed 30-year home loan, the most popular among home buyers, fell to 3.62 percent from 3.66 percent last week, and 4.6 percent from a year ago. The average 30-year loan rate has matched or dropped to new lows in 10 of the last 11 weeks.
"Recent economic data releases of less consumer spending and a contraction in the manufacturing industry drove long-term Treasury bond yields lower over the week, and allowed fixed mortgage rates to hit new all-time record lows," said Frank Nothaft, Freddie Mac's chief economist.
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Chimera Investment invests in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes. Shares of the company have fallen in recent weeks after they cut their second quarter dividend to $0.09 per share from $0.11 in the first quarter of 2012.
Two Harbors Investment Corp. is a real estate investment trust that invests in residential mortgage-backed securities, residential mortgage loans, residential real properties and other financial assets. The company's Board of Directors last month announced a second quarter dividend of $0.40 per share for an annual yield of roughly 15 percent.
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