According to the latest survey published by Freddie Mac, it was learned that mortgage rates in the United States had a strong increase in May, reaching 6.86% for the 30-year average.

In this regard, Sam Khater, chief economist at Freddie Mac, commented that this is partly due to the adjustments that have been causing in the country's economic sphere, which affects the real estate market.

Meanwhile, the 15-year fixed mortgage rate stood at 6.01%, up from 5.92% last week. Both data show high levels since the February mark, which continues to send signals to homeowners and future buyers that the market is not entirely stable.

For his part, Lawrence Yun, chief economist for the National Association of Realtors (NAR), noted that "home sales have been at 75% of normal or pre-pandemic activity for the past three years," he said. Sales during the spring season according to the Freddie Mac report were very low.

According to NAR data, there was a 0.5% decrease in home sales last month. For Yun, “at a macro level, we are still in a moderate sellers’ market, but with the highest inventory levels in almost five years, consumers are in a better position to negotiate better deals,” the specialist highlighted.

Mortgage rates also rose to 7% last week following Moody’s Ratings’ announcement of the credit rating downgrades, and they continue to rise following the yields of the 10-year Treasury bond, which is sensitive to the country’s economic conditions amid uncertainty about Donald Trump’s policies towards his trading partners.