Mortgage rates drop for the third straight week, but homebuyers are still leaving the market
Summary
Borrowing costs for home loans declined for a third consecutive week. Despite this downward trend in rates, prospective buyers showed less interest in securing mortgages. Elevated property prices and ongoing inflation continue to limit housing affordability for consumers.
Mortgage rates came down again last week, but mortgage demand from homebuyers continued to decline, as high home prices and inflation stretch affordability.
Source: Read the full story at US Top News and Analysis
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