The Problems With Rising Interest Rates

I'm not surprised by what's happening because I predicted what's happening for the precise reasons that it's happening. The mainstream conventional wisdom was that rising interest rates were going to be great for the banks. Think about first bank in Puerto Rico that owns that mortgage. They're stuck collecting 2.88% for the next 30 years. That is a huge loss for that bank. And more people are going to start ganking their money out of these banks.