Rising mortgage rates are beginning to impact the housing market, as pending home sales declined in June after reaching the highest 
level in more than six years, according to the National Association of REALTORS®. May but still 10.9 percent higher than June 2012.
level in more than six years, according to the National Association of REALTORS®. May but still 10.9 percent higher than June 2012.“Mortgage interest rates began to rise in May, taking some of the momentum out of contract activity in June,” said NAR chief economist Lawrence Yun. He noted that a persistent lack of inventory also contributed to lower contract signings. See Rates: Mortgage Rates Bounce Around This Week Mortgage rates ticked up this week but still remain “relatively low
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