Mortgages in the US have become more expensive again. Freddie Mac: 6.37% annually — and a market where the buyer finally has leverage.

Freddie Mac released its weekly mortgage rate survey on May 7: the average rate for a 30-year fixed-rate mortgage stood at 6.37% annually. A week earlier, the rate was 6.30%. In the same period last year, the rate was 6.76%.

The increase — modest in absolute terms — reflects continued geopolitical pressure on the bond market. In late February, the United States launched a military operation in Iran, sparking a surge in gas prices and a wave of uncertainty across financial markets. Mortgage rates, tied to Treasury yields, rose in response in March and have not returned to early‑year levels since.

Against this backdrop, the US housing market in May 2026 finds itself in a rare state: supply is growing, prices are stagnating, and for the first time in several years, buyers have real negotiating power. According to data from Freddie Mac itself, new home sales have picked up slightly, the median price of new construction has fallen to its lowest point since July 2021, and the volume of homes listed for sale has risen by about 20% from recent lows.

J.P. Morgan forecasts zero price growth for US housing by the end of 2026. Fannie Mae expects +2.4%, the National Association of Realtors +4%. This range of forecasts reflects the current uncertainty: the American market is simultaneously balancing improved housing affordability and ongoing constraints on buyers. The rate threshold at which millions of US renters can afford a mortgage, according to analyst calculations, lies closer to 6% rather than today's 6.37%.

For foreign buyers considering the US as a real estate investment destination, the current situation creates an atypical window: supply has increased, and seller flexibility in negotiations has as well. New York, Florida, and California markets have historically attracted foreign capital precisely during periods when local buyers step back. Today, the mortgage rate is keeping some of them on the sidelines.

The next Federal Reserve meeting is scheduled for late May. Most analysts do not expect a rate change — but the regulator's phrasing will be closely read by the market for any signals regarding the autumn.

US real estate — Miami, New York, Florida: discount-house.com/usa