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

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.

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.

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

But in 2023 the average rate on a 30-year fixed mortgage was 6.8%, its highest in 22 years. Last year it was only slightly lower. And so the tricks of 40 years ago are back. Mr Sabic is among a small but growing band of homebuyers who have taken over their seller’s mortgage.