Mortgage rates rose to their highest level since the summer as predicted following Congress passing income tax reform, according to Freddie Mac.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

The mortgage market had already priced the Federal Open Market Committee's 25-basis-point hike into its rates so there was little change, according to Freddie Mac.

Mortgage rates ticked up this week, but a larger rise is possible next week depending on what Congress does about tax reform and the budget.

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators.

Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.

Private mortgage insurers are better positioned to weather a flatter or even inverted yield curve than other financials from an investment perspective, a report from FBR Capital Markets said.

Mortgage rates moved lower this week, but strong economic data and comments by the outgoing Federal Reserve chair left many anticipating higher rates, according to Freddie Mac.

Consumer house-buying power, measuring how much one can purchase based on changes in income and interest rates, fell 2.1% year-over-year, but increased by 1.3% from the month prior, according to First American Financial Corp.

President Trump’s pick to head the Federal Reserve will face the Senate Banking Committee this week. Here’s what to watch for.