According to St. Germain, the Fed is likely to prioritize its dual mandate of keeping inflation in check, even with the political pressure increasing. As a result, prospective homebuyers shouldn't expect August to usher in much change for mortgage rates.

USDA streamlined or streamlined assist refinance: If you have an underwater USDA loan, you might be able to refinance it with one of the USDA’s streamline programs, which don’t require an appraisal in most cases. For streamlined assist, the new mortgage needs to provide a net tangible benefit.

Both HELOC and home equity loan interest rates fell again last week. Here's what potential borrowers should do next.

Those with mortgages are bank-hopping at record rates – but not necessarily to get lower interest rates. Loan Market mortgage broker Bruce Patten said banks are attracting new customers by offering them cash contributions of around $5000.

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

If you're concerned that your parents are considering a reverse mortgage, discuss their financial situation with them to help determine if it's the best financial solution.