sydneyaustralian finance group ltds stock fell in monday trade despite positive momentum going into fiscal 2022 as investors eye changing interestrate conditions in the longer term shares in the australian nonbank financial company slid 40 to 219 australian dollars us158 afg shares lost almost 190 in january as investors braced for a different set of interestrate conditions in fiscal 2023 and beyond perhaps spurring a mortgage and housing bear market afg on friday reported a 20 jump in net profit for the six months to december to a300 million which was 1 above consensus expectations the companys revenue rose 315 to a4697 million citi now estimates fiscal 2022 net profit of a631 million almost double the level in 2019 when the current housing bull market began and sees operating performance momentum likely to continue into the second half however citi notes that afgs share price has significantly underperformed the market the weakness in the share price over the past six months is likely to reflect investors are looking beyond fiscal 2022 where afg is set to face a completely changed set of market conditions citi said despite solid operational performance amid a strong housing market afg and other nonbank financials are expected to face higher mortgage rates if the reserve bank of australia raises its cash rate as expected at the same time mortgage borrowers loan capacity could fall with higher rates all of these factors are expected to slow activity and weaken house prices citi said