US Mortgage Rates Continue to Drop, But Demand Remains Low

Mortgage rates have fallen for the fourth consecutive week, but homebuyers still face challenges due to the lack of for-sale inventory and rising home prices. The volume of mortgage applications for home purchases has decreased, and the number of homes for sale remains stubbornly low. Homeowners are reluctant to sell their homes due to low mortgage rates, and those who do sell are less willing to offer discounts as inventory remains scarce.