Any drop in mortgage rates is good news for homebuyers, but rates still remain high compared to a few years ago.

Mortgage rates today, July 29: 30-year fixed at 6.625%, 15-year fixed at 5.75%. Explore current rates, tips to save, and market insights.

Analysts believe a modest drop in mortgage rates could prove to be a "magic bullet" for the U.S. housing market.

Mortgage rates dropping to 6% would allow for over 5 million more households to afford a home, according to the National Association of Realtors.

The VA Standard Loan allows qualified borrowers to buy, build, repair, maintain, or adapt a primary residence with terms that offer both confidence and convenience. The VA Interest Rate Reduction Refinance Loan (IRRRL) helps existing VA loan holders lower their monthly payments and interest rates with a fast, hassle-free process.

Facing higher home prices and interest rates, many buyers are looking for mortgage co-signers. But things can get tricky when it’s time to sell.

Missing a mortgage payment can have detrimental consequences such as foreclosure. In addition, this can also affect your credit score.