Here’s the monthly cost of purchasing a typical home today, according to the Realtor.com® mortgage calculator. The typical monthly payment on a median-priced $440,950 home at today’s 6.74% mortgage rate is roughly $2,286. (That’s assuming a 20% down payment and excluding tax and insurance.)

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

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

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

First-time buyers struggle with high home prices and mortgage rates near 25-year highs. Assumable VA loans offer one option for lower interest costs.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87% from 5.92% last week. A year ago, it was 6.07%, Freddie Mac said.

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