We certainly do anticipate, as everyone does—and by that I mean our colleagues in the federal oversight system—that in the coming months and over the next two years, as consumers hit renewal rates or hit trigger points, there will be increased recognition and realization of challenges. Those could very well result in higher levels of defaults or missed payments. I think that's a reasonable thing to anticipate. As so many mortgages were put in place at much lower rates, there's going to be an impact as those get renewed or refinanced.
On February 13th, 2024. See this statement in context.