A 31-basis-point drop in mortgage interest rates brought home buyers—and refinancers—out of the woodwork last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending July 29.

Fresh off its victory last week, in which the House overwhelmingly approved legislation allowing notaries to perform Remote Online Notarization transactions nationwide, the MBA Mortgage Action Alliance set its sights on the next step: approval by the Senate.

CoreLogic, Irvine, Calif., said annual home price appreciation slowed in June for the second straight month—relatively speaking.

The multifamily market produced exceptional rent growth in the first half of 2022, driven by robust household formation, strong employment growth and households getting frozen out of homeownership, said Yardi Matrix, Santa Barbara, Calif., The sector, however, is at an inflection point as soaring inflation prompts the Federal Reserve to raise interest rates to reduce growth.

Multifamily lenders provided a record $487.3 billion in new apartment buildings with five or more units, the Mortgage Bankers Association reported Tuesday.