Prospective borrowers might not be thrilled about it, but the ongoing rise in interest rates is proving a boon for one group of people: investors in financial stocks. The higher interest rates go, the more money there is to be made on loans and clients' cash balances, which provides a significant boost to bank stocks and shares of other financial institutions.

Banks and brokers already have benefited from the four quarter-point hikes we've seen imposed since the beginning of 2017. Bank of America (BAC) reported a 9% year-over-year improvement in revenue from its consumer banking during the first quarter, mostly attributable to deposits and loan growth. Brokerage firm Charles Schwab (SCHW) grew net interest revenue 26% last quarter, to $1.3 billion. Indeed, nearly three-fourths of the market's financial stocks have posted Q1 results, and 78% of those companies have managed to top expectations.

More of the same kind of growth could be in the cards for the foreseeable future; too. Economists anticipate at least two and maybe even three more rate hikes before 2018's end.

These are the best financial stocks to buy right now, not just because of the broader trend backing the sector, but also thanks to bargains borne of recent market weakness. Here are 10 of the top prospects in the financial sector.

Bank of America

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Market value: $299.8 billion

Dividend yield: 1.5%

If you're looking for financial stocks that not only