H&R Block Inc., the nation’s largest tax preparer, on Thursday reported a larger second-quarter loss and lowered its annual earnings guidance as rising interest rates dragged down the company’s mortgage business.

The Kansas City, Mo.-based company said it now expects to make between $1.90 and $2.15 per share for the year that ends in May. Previously, the company expected annual earnings of $2.12 to $2.32.

For the three months that ended Oct. 31, the company said it lost $72.2 million, or 22 cents per share, compared with a loss of $49.9 million, or 15 cents per share, during the same quarter a year ago.