The homeownership rate fell in the first quarter to the lowest level in 15 years as more Americans lost homes to foreclosure and shifted to renting amid the weak economic recovery.

Economists say the rate could slip further. While low mortgage-interest rates and falling home prices have made homes more affordable than at any time in the past decade, mortgage-lending standards remain tight. Also, more Americans may feel less confident about property ownership after the steep price declines of the past six years.

The Census Bureau said Monday that the homeownership rate fell to 65.4% at the end of March, the same level as in early 1997.

Before the housing bubble of the past decade, the rate grew very slowly. It rose to about 66.2% in 2000 from 64.2% in 1990, according to the federal decennial census. The rate slipped slightly during the 1980s, the first decline in the post-World War II period. It increased by 1.5 percentage points in the 1970s and by one percentage point in the 1960s.

But the homeownership rate rose sharply during the past decade, to a peak of 69.2% at the end of 2004. It has fallen steadily since housing prices began dropping in 2006.