Core Insights - 2025 has been a favorable year for mortgage real estate investment trusts (mREITs) that focus on residential mortgages, primarily due to lower funding costs from repurchase agreements resulting from a 1% reduction in the Federal Reserve rate in 2024 and an additional 0.75% cut in 2025 [1] Group 1 - mREITs are experiencing a boost in earnings due to reduced funding costs [1] - The investment landscape has been positively influenced by the macroeconomic environment, particularly the Fed's interest rate cuts [1] - The author has a long-term fundamental investment approach, focusing on REITs and financials [1]