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The tech company's earnings are reflecting a cooling market.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

Rates are expected to increase to 3.75% to 4% by the end of the year, and it's anticipated to stay high for longer.

The 30-year average has declined by 55 basis points in two weeks.

Refinances inched up 2% as interest rates dipped, but accounted for only 31% of activity, compared to two-thirds a year ago.

The day after the Federal Open Market Committee's next meeting we will analyze the increase and the signals about what rate hikes may be coming.

Several lenders have introduced loan offerings this year to tap into surging property values, as refinances plunge by more than 80%.

The allegations by Rep. Patrick McHenry and others were a response to a CFPB interpretive rule, even though states use their own laws prohibiting unfair and deceptive acts and practices.

Fed Chairman Jerome Powell brushed off concerns that rapidly tightening monetary policy could disrupt the financial system. Some economists and policy experts beg to differ, raising concerns about loan defaults or even the collapse of a key institution or counterparty.

Net interest income was the driver, as increases from investments more than offset a decline related to its guaranty book of business.