Mortgage rates

Mortgage application volume decreased 1.8% from the previous week driven by lower purchase activity, according to the Mortgage Bankers Association.

For Twin Cities home sellers, it was the best March in more than a decade. For many buyers, it was one of the most demoralizing.

New-home construction cooled in March to a four-month low as starts of single-family properties settled back from the strongest pace in almost a decade.

Amid rising rates and home prices, mortgage and real estate professionals are gearing up for a consequential home buying season this year. Here's a look at the 15 markets poised for a stellar spring.

Confidence among homebuilders cooled in April after jumping a month earlier to the highest level since mid-2005.

Mortgage rates have been on a steady decline since the March 15 Federal Open Market Committee meeting, hitting a new low for 2017, according to Freddie Mac.

Mortgage applications increased 1.5% from one week earlier even though refinancing activity continues to shrink, according to the Mortgage Bankers Association.

When Tom Bauer put his three-bedroom, two-bathroom tri-level house in Oak Creek up for sale late last summer, it drew little interest, so he took it off the market just before Christmas.

The Cedar Rapids, Iowa, housing market got an early jump this year as pent-up demand mixed with a milder winter and a low inventory of available houses speeded up the time homes are sold.

Investors have reacted to the Federal Reserve's plan to shrink the balance sheet so far in exactly the opposite way that policymakers had feared.

Home price increases combined with rising rates drove consumer confidence in the housing market off of its all-time high.

Returns from funds investing primarily in government-related mortgage securities were stronger in the first quarter than they were in the fourth quarter of 2016, but aren't quite as strong as in the first quarter of 2016.

Commercial and multifamily mortgage bankers originated $490.6 billion closed loans in 2016, making it the third strongest year on record despite the pressure higher rates have put on volume.

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.