The Federal Emergency Management Agency announced it will be sending almost $37 million to Massachusetts to reimburse it for some of the administrative costs associated with managing FEMA grants for COVID vaccinations and testing, non-congregate sheltering, and providing meals to vulnerable populations.

Former Rep. Lori Ehrlich announced the funding that the Massachusetts Emergency Management Agency will receive through FEMA’s Public Assistance grant program.

“FEMA is pleased to be able to assist Massachusetts with these costs,” Erhlich, FEMA’s Region 1 Regional Administrator, said. “Reimbursing state, county, and municipal governments – as well as eligible non-profits and tribal entities – for the costs incurred during the COVID-19 pandemic is an important part of our nation’s ongoing recovery.”

FEMA said it has provided more than $2.5 billion in public assistance grants to Massachusetts to reimburse the state for pandemic-related expenses.

Mortgage rates slide sharply

U.S. mortgage rates dropped sharply, capping the biggest four-week slide in nearly a year and spurring a fresh round of applications to purchase homes.

The contract rate on a 30-year fixed mortgage tumbled 20 basis points to 7.41% last week, data from the Mortgage Bankers Association showed Wednesday. The index of home-purchase applications increased 3.9% in the week ended Nov. 17, the most since June.

Since reaching a 23-year high of nearly 8% in mid-October, mortgage rates have plunged nearly half a percentage point. The effective rate, which includes fees and compound interest, dropped to still-elevated 7.59%.

The overall index of applications, which includes purchases and refinancings, rose for a third week, and refinancing activity picked up.