Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 166

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 166
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153)

Interest income

Interest income increased from the nine months ended September 30, 2024 to the nine months ended September 30, 2025  primarily due to a higher weighted average amortized cost of our GAAP investment portfolio as a result of purchases of residential mortgage loans and Non-Agency RMBS and an increase in the weighted average yield of our investment portfolio. The following table presents a summary of the weighted average amortized cost of and the weighted average yield on our GAAP investment portfolio ($ in millions).

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeWeighted average amortized cost of our GAAP investment portfolio$7,586 $6,837 $749 Weighted average yield on our GAAP investment portfolio6.06 %5.91 %0.15 %

54

Interest expense

Interest expense increased from the nine months ended September 30, 2024 to the nine months ended September 30, 2025 due to a higher weighted average GAAP financing balance outstanding resulting from the issuance of securitized debt and Senior Unsecured Notes during the period, offset by the repayment of the Legacy WMC Convertible Notes upon maturity in September 2024. Additionally, there was an increase in the weighted average financing rate. The following table presents a summary of the weighted average financing balance and the weighted average financing rate on our GAAP investment portfolio ($ in millions).

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeWeighted average GAAP financing balance$7,136 $6,470 $666 Weighted average financing rate on our GAAP investment portfolio5.39 %5.24 %0.15 %

Net interest component of interest rate swaps 

We recorded income on the net interest component of interest rate swaps during the nine months ended September 30, 2025 and 2024 as a result of our swap portfolio being in a net receive position. The decrease in income from the nine months ended September 30, 2024 to the nine months ended September 30, 2025 was the result of a decrease in the weighted average receive rate and weighted average notional balance. The following table presents a summary of our interest rate swap portfolio as of September 30, 2025 and 2024 ($ in millions).

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeNet weighted average interest rate swap notional