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Regional Bank Contagion Nicked AGNC Investment's Book Value in the First Quarter

Brent Nyitray, CFA, The Motley Fool
·4-min read
Regional Bank Contagion Nicked AGNC Investment's Book Value in the First Quarter

With the sudden and steep rise in interest rates, mortgage originators watched volumes collapse as refinance activity dried up, and mortgage real estate investment trusts (REITs) saw their portfolios of mortgage-backed securities drop in value. AGNC Investment (NASDAQ: AGNC) kicked off the earnings season for mortgage REITs and said that the Silicon Valley Bank situation dented its portfolio. AGNC Investment is a mortgage REIT, a type of REIT that focuses on mortgage-backed securities that are guaranteed by the U.S. government.

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