Mortgage Market Upheaval - $17 Billion in Paper Losses for Banks

While rising rates buoy revenue for the country’s largest banks, in the short term they also force them to write down the value of assets they hold on their balance sheet

Bloomberg 17 November 2022

https://www.bloomberg.com/news/articles/2022-11-17/mortgage-market-upheaval-sparks-17-billion-in-paper-losses-for-us-banks