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

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

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.

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.

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

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.

Mortgages with 10-year terms typically offer some of the lowest interest rates available to homeowners. Loans with longer terms—such as 15- and 30-year mortgages—generally have higher rates.

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