The National Association of Realtors (NAR) reported on Monday that existing-home sales across the country rose strongly in May. Existing-home sales in the west rose 0.9 percent to an annual rate of 1.09 million last month, which is 11.4 percent below sales this time last year.
Freddie Mac’s June 12 Primary Mortgage Market Survey showed that the 30-year fixed mortgage rose 6 basis points to 4.20 percent. This marked the the second consecutive week that rates have risen. In the second week of June 2013, the 30-year fixed averaged 3.98 percent.