According to a report published this week by Freddie Mac, 30-year fixed reference mortgage rates in the United States increased again from 6.55% to 6.58%, reaching the highest level in 11 months at the end of July.

For its part, the average 15-year fixed mortgage rate also rose from 5.93% to 5.96%, exceeding the figure of 5.87% recorded last year, this in the midst of a real estate market that remains tight due to the high property prices that keep future buyers away from the sector.

However, despite the data, Sam Khater, chief economist at Freddie Mac, commented that “as market conditions continue to evolve, borrowers should remember that comparing different mortgage interest rates can make a significant difference, potentially saving thousands of dollars over the life of the loan,” he said.

However, for Jeff DerGurahian, chief investment officer and chief economist at LoanDepot, as long as mortgage rates remain elevated, homebuyers would be better off focusing on the total cost of owning a home rather than trying to guess where rates will be in a few months, he said.

Although a recent report published by Realtor.com estimates that home prices will fall 1.2% this year, in the last seven years the price of real estate in the United States has increased from $256,000 to $344,000 dollars, and in some states in the country they exceed $400,000, causing a strong affordability crisis.

“In practice, this means that today's first-time home buyer is increasingly looking like the buyer who was looking for a nicer home a decade ago,” says Hannah Jones, senior economist at Realtor.com.