(FILES) A for sale sign stands at a home in Washington, DC, in this May 1, 2013 photo.   Pending home sales jumped in May to their highest level since late
(FILES) A for sale sign stands at a home in Washington, DC, in this May 1, 2013 photo. Pending home sales jumped in May to their highest level since late 2006, with buyers possibly racing against a rising trend in mortgage rates, the National Association of Realtors said June 27, 2013. The NAR's index for pending sales, reflecting sales contracts signed, jumped to 112.3 in May from a downwardly revised 105.2 in April. It was the highest level since December 2006 and came as interest rates began a sharp rise, possibly prodding more home shoppers to move quickly to save on mortgage costs, said Lawrence Yun, NAR chief economist. AFP PHOTO/JIM WATSONJIM WATSON/AFP/Getty Images (JIM WATSON)