Mortgage Rates Remain Steady Despite Market Fluctuations.

Mortgage rates have dropped for the third week in a row, creating affordability for some homebuyers, but low inventory remains a key challenge for prospective buyers. The Federal Reserve acknowledged that recent instability in the banking sector could spur further tightening of credit, making it harder and more expensive to borrow money. Homebuyers may also find that low housing supply could be another challenge this spring, with homes newly listed for sale in March decreasing by 20.1% compared to the same time last year.