U.S. Department of Housing and Urban Development (HUD)

Multifamily units continued to be built at a better rate than single-family homes.

In annual report to Congress, FHA says serious delinquencies fell to 4.77%.

Sales estimates for previous three months also revised downward, reflecting the rise in mortgage rates.

Agency seeks industry input as a starting point to encourage greater origination of small-balance mortgages for FHA insurance.

Sales increase nearly 29% from July, but the estimate may be inflated by lag in contract cancellations.

Construction of new multifamily units rose nearly 29% in August from July; single-family starts rose 3.4%.