Do Not Be Tempted by Extra High Dividend Yields

If you see a stock with a dividend yield that seems too good to be true, it probably is. Here are four mortgage lenders with sky-high dividend yields that will probably cut their dividends in the near future: HomeBanc (HMB), 24.60 percent, Novastar Financial (NFI), 18.50 percent, Impac Mortgage Holdings (IMH), 10.50 percent and MortgageIT Holdings (MHL), 8.30 percent.

The high yields are due to declining prices as the stocks are on the downside. Avoid these stocks for now.

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Posted November 25, 2006.