Bank of America reported a 12% quarter-over-quarter decline in home loan production to $9.8 billion, amid higher mortgage rates and regulatory costs. The bank's earnings were hit by $1.96 billion in penalties from regulators.
Why it matters. Banks' mortgage businesses are facing challenges due to higher rates and regulatory pressures, affecting their market share and earnings.
Each line is a relation with evidence behind it, drawn in the direction it points. A line shows that two things are connected, not how far this change reaches.
