Mortgage Rates Dip, But Relief May Be Limited.

Mortgage rates have slightly decreased but remain high, adding to the affordability challenges faced by homebuyers in today's housing market. The lack of supply and high home prices have compounded the issue, with rate-trapped homeowners refusing to list their properties. The volume of purchase applications has declined for the fourth straight week, and inventory growth is lagging behind last year's rate. As a result, 80% of Americans don't think it's a good time to buy a home, while 65% believe it's a good time to sell.