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The 30-year fixed rate surged 15 basis points from a week earlier but ends 2022 at more than twice its mark from a year ago.

The overall share of distressed mortgages fell in every state, but the effects of Hurricane Ian led to a small uptick in early-stage late payments compared to one year ago, CoreLogic said.

The sharpest run-up in rates seen in over three decades slashed mortgage origination volumes, and contributed to a volatile market environment, but had some cyclical benefits for servicing.

Consumer advocates urged a district court to dismiss a lawsuit against the Consumer Financial Protection Bureau, alleging that discrimination is an "unfair," practice under the Dodd-Frank Act.

Foreclosure starts also increased by over 19% between October and November but remain below pre-pandemic levels.

Refinances saw an uptick for a third straight seven-day stretch, but purchases flattened during a typically slow home buying period, according to the Mortgage Bankers Association.

The pending merger of Black Knight and ICE threatens to create a monopoly not unlike Ticketmaster, writes the chief executive officer of Figure Technologies.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.

The loans for self-employed borrowers are getting a fresh examination to determine if they fall within the Consumer Financial Protection Bureau's updated guidelines for qualified mortgages, which went into effect in October.

Many believe the Federal Reserve will slow down rate increases beginning in December.. Steve Friedman, senior macroeconomist at MacKay Shields, will join us the day after the meeting to discuss what was done and what he expects in the future.