The apparent disconnect between funding costs & payments being...

The apparent disconnect between funding costs & payments being received is something I wasn't previously aware of that I'm a little disappointed to learn of.
Interest costs going up means loan facilities are variable, but loans being written must be fixed if incoming payments aren't rising to match those costs. If we're writing fixed loans I would have thought most of our loans should also be fixed or there should be swaps in place to hedge that risk. Otherwise it feels like a sizeable part of our business is gambling on rates movements rather than writing loans.