The number of refinancing applications for housing in the United States has dropped for the third consecutive week.

The adjusted data from the Mortgage Bankers Association of America shows that the housing refinance applications in the United States decreased by 1% this week, but were still 30% higher than the same period last year. However, the overall size of refinance is still at historical lows, marking the third consecutive week of decline. It is worth noting that the mortgage interest rates from last year were only 1 basis point lower than the current rates, almost equal.