 19,000 units, it's the slowest pace since November, according to the U.S. Census Bureau. The average rate of a 30-year mortgage has mostly hovered around 7% this year, according to mortgage buyer Freddie Mac. The elevated rates have discouraged many home shoppers. Sales of previously occupied U.S. homes, which make up by far the largest swath of the housing market, also fell reportedly in May for the third month in a row.