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.

For the past several months, the average 30-year fixed mortgage rate has sat between 6.5% and 7%. Prospective homebuyers shouldn't hold their breath for that to change anytime soon. On July 30, the Federal Reserve is expected to keep borrowing rates the same at its fifth monetary policy meeting this year.

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

FULL STORY: Millennials Are More Stressed About Their Mortgage Payments Than Any Other Generation Millennials, facing soaring home values and high interest rates, are more stressed about paying mortgages than any other generation, with only 50% believing in homeownership as part of the American dream.

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

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.

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.