Mortgage rates

The average weekly rate for a 30-year fixed-rate mortgage dropped to 4.1% from 4.14% despite the release of information about further tapering of the Federal Reserve's mortgage bond holdings.

Most Federal Reserve officials agree that they will begin shrinking their super-sized balance sheet later this year.

Mortgage applications decreased 1.6% from one week earlier as refinancing activity continues to shrink, according to the Mortgage Bankers Association.

Manhattan home resales climbed for the first time in a year and a half as sellers agreed to lower prices in order to seal deals before inventory and interest rates rise further.

The shift in mortgage rates has outpaced regulation as the housing market's main driver.

Enough about spring. For homebuilders in the Twin Cities, summer is already here.

Consolidation among large independent mortgage bankers is likely as several lack the financial wherewithal to deal with the changing environment, Moody's said.

The 30-year fixed-rate mortgage averaged 4.14% for the week ending March 30, down from last week when it averaged 4.23%.

Home prices in the Portland area, already at record levels, pushed higher in January.

After a record-setting 2016, and strong sales in January, Rhode Island house sales fell by nearly 7% in February, a change attributed to the declining number of houses for sale.