Mortgage rates drop for third week, homebuyers still leave market

• Mortgage rates fell for the third straight week, marking a decline in borrowing costs.
• Despite the drop, mortgage demand from homebuyers continued to decline.
• High home prices and inflation are stretching affordability for potential homebuyers.
• The average long-term U.S. mortgage rate has been decreasing, offering some relief to prospective buyers.
• Despite the decrease in rates, the market remains challenging for homebuyers due to economic factors.