Wintertime extremes such as cold spells and heavy precipitation can have severe socioeconomic impacts, disrupting critical infrastructures and affecting human well-being. Here, we relate the occurrence of local and concurrent cold or wet wintertime extremes in North America and Europe to a recurrent, quasi-hemispheric wave-4 Rossby wave pattern. We identify this pattern as a fundamental mode of the Northern Hemisphere (NH) winter circulation, since wave 4 exhibits phase-locking behavior. Thus, the associated atmospheric circulation and surface anomalies reoccur over the same locations when the pattern’s wave amplitude is high. The wave pattern is most pronounced over the pan-Atlantic region, and increases the probability of extreme cold or wet events by up to 300% in certain areas of North America and Europe, as well as favoring their concurrence at different locations. High-amplitude wave-4 events have increased significantly in frequency over the past four decades (1979–2021), although no clear evidence is found relating this to modes or patterns of climate variability. The identified wave pattern may provide pathways for early prediction of local and concurrent cold or wet wintertime extremes in North America and Europe.