Borrowing costs for home buyers jumped last week as lenders raced to keep up with refinancing applications amid turmoil in financial markets. That’s despite the Federal Reserve actually cutting its benchmark interest rate. So reports MarketWatch.

A steep drop in construction of multifamily units drove a decline in U.S. homebuilding in February. So reports CNBC.

Refinance applications fell 10% in the most recent week tracked by the Mortgage Bankers Association, while mortgage applications decreased 8.4%. So reports USA Today.