Pending home sales ticked up as housing payments temporarily dipped down. 

U.S. pending home sales rose 1.3% from a week earlier to their highest level since the first half of May during the four weeks ending July 5. This data is seasonally adjusted. 

Homebuying demand picked up partly because of temporarily declining mortgage rates. The weekly average rate dipped to 6.43% on July 2, its lowest level in six weeks, as negotiations between the U.S. and Iran to end the war eased financial turmoil. That pushed the median monthly housing payment down to $2,598, its lowest level in six weeks. The mortgage-rate respite was brief; rates have since bounced back up, with the daily average rising to 6.68% on July 8.