Mortgage rates fall again

but other obstacles remain for homebuyers

Buyers aren't buying—or are unable to buy—despite the decreased rates.

Homebuyers are somewhat more relieved after mortgage rates fell for the fourth week in a row. 

To balance out other difficulties buyers face this spring season, though, larger decreases might be required.

According to Freddie Mac, the 30-year fixed mortgage's average rate dropped from 6.32% the previous week to 6.28% this week.

Rates have decreased by almost a half-point in the past month, reflecting the reduction in the 10-year Treasury yield that has been occurring since early March and was initially sparked by the banking crisis.

While the decrease eases some of the strain on purchasers, the ongoing scarcity of homes for sale makes it difficult for them to find a place to call home.

Rates haven't decreased significantly enough either to persuade many homeowners to list their properties, prolonging the housing shortage that keeps prices high.

According to Jeff Tucker, a senior economist at Zillow, "Affordability and availability of properties are the major obstacles for buyers in today's market, while both are influenced by mortgage rates."

Buy loan applications from the Federal Housing Administration and Veterans Affairs, which are popular with first-time buyers, fell last week as well.