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Why Shares of Redfin, AGNC Investment Corp., and Annaly Capital Management Are Falling Today

Why Shares of Redfin, AGNC Investment Corp., and Annaly Capital Management Are Falling Today

Shares of several real estate stocks and mortgage real estate investment trusts (REITs) struggled today as mortgage rates soared. Shares of the real estate brokerage Redfin (NASDAQ: RDFN) traded close to 7% lower as of 11:50 a.m. ET today. Meanwhile, shares of mortgage REITs AGNC Investment (NASDAQ: AGNC) and Annaly Capital Management (NYSE: NLY) traded more than 5% and nearly 10% lower, respectively.