Pending home sales rose 4.8% from a year earlier in May, with a 3.8% month-over-month increase, according to the National Association of Realtors. The Midwest led regional gains with a 9.3% jump, as buyers sought relative affordability. NAR chief economist Lawrence Yun called it a late spring buyer rush, reflecting pent-up demand and acceptance of above-6% mortgage rates as the new normal. Mortgage rates held around 6.4% to 6.5% through most of May, yet home sales are tracking ahead of last year following a 3.2% increase in May.