July 18 mortgage rates hold steady at 6.625% as builders offer discounts and incentives to attract hesitant buyers.

Lower mortgage rates may motivate more people to buy houses, but it will take a bigger drop in borrowing costs to create more home sellers and lead to lower home prices, economists said.

Potential homebuyers may be able to save money with a little-known financing option, but they still need to watch their credit.

Renewed concerns over tariffs and the broader economy drove treasury yields higher last week, and mortgage rates followed. As a result, total mortgage application volume dropped 10% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

The numbers for June came in pretty much as economists had predicted — a moderate increase from last month. The rate of inflation rose 0.3% from May to June, and was up 2.7% compared to June 2024. In other words, if it feels like everyday goods cost more, it's because many of them do.

Potential homebuyers may be able to save money with a little-known financing option, but they still need to watch their credit.

Americans saw a chance to save a few dollars on their monthly mortgage payments and took it, pushing refinance applications up 40% versus a year ago.

The interest rate for a 15-year fixed rate mortgage is typically lower than 30-year fixed rates, for a few reasons. For one, lenders can recoup their money in half the time.

Mortgage applications dropped 10.0% amid rising interest rates and post-holiday adjustments.   Refinance activity declined 7%, while purchase app