With the Federal Reserve's July meeting on the horizon, many prospective homebuyers and homeowners are wondering what it could mean for mortgage rates. After years of relatively high borrowing costs, even the slightest dip could open doors for those hoping to buy or refinance. But the path forward is far from clear.

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

If Trump allies really wanted to see homes become more affordable, he would push for less monetary inflation and for lower federal deficits.

Whether you're buying a new home or considering mortgage refinancing, the main question is the same right now: When will rates drop? The interest rate environment has remained elevated across various lending products,

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.

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