After a few long months of high mortgage rates, data from Freddie Mac published this Thursday indicated that mortgage rates have begun to decline, falling to their lowest level in May, after the real estate market was affected by geopolitical tensions due to the war between the United States and Iran and inflation shooting above 4%.

According to the figures, the benchmark 30-year mortgage rates were at 6.43% from 6.49% the previous week; For its part, the 15-year mortgage rate in the United States decreased from 5.84% to 5.79% by the end of the week of July 2.

In this regard, Julia Fonseca, professor at the Gies College of Business at the University of Illinois at Urbana-Champaign, told ABC News that, although interest rates fell, which is a certain relief, they are still very high compared to a few years ago.

However, Fonseca assured that, in the face of a tight real estate market, any drop in mortgage rates is beneficial. "This is not going to be enough for people to access housing immediately. It is possible that we will see a gradual release of debt over time and as rates go down," he said.

For his part, Ken Johnson, a real estate economist at the University of Mississippi, stated that the main factor in the fall in mortgage rates is the decrease in tensions in the Middle East, as a result of the reduction in oil and treasury bond prices.

Mortgage rates obey the yields of US Treasury bonds, which in recent weeks have skyrocketed due to the rise in the inflation rate.