Mortgage applications rose last week, thanks in part to a dip in mortgage rates, according to a new report. But credit availability has been falling.

They’re down about 26% compared to a year ago.

Mortgage rates fell slightly last week, according the Mortgage Bankers Association. But even if rates keep falling, people will still struggle to afford homes.

“The average days on market has gone from less than a week up to about 89 days,” says broker Amanda Pohlman of Keller Williams Living.

Rates are near 7% for a 30-year fixed mortgage, highest in two decades. For buyers who can afford it, shopping is less stressful.

Materials and labor costs are up. Building costs will climb further if interest rates on construction loans rise.

In some markets, sellers can no longer bet on multiple offers and quick deals, and buyers can afford to be pickier.

But profit margins are shrinking, and the flipping boom may be coming to an end.

With heightened competition to buy homes, many buyers are waiving inspections and other contingencies.

Most houses sold in about a week, keeping buyers on their toes.