Neither the snowstorm that hit the region nor the jump in mortgage rates deterred buyers who were still out in force last month. The slight increase in mortgage rates created a mini power surge of sales activity intensity. Freddie Mac reported an average rate of 3.02% for a 30-year fixed-rate mortgage for the week ending March 4. That’s up five basis points from the previous week, and the first time since July 2020 that the benchmark mortgage rate climbed above 3%. Despite rates edging up and inclement weather during much of February, eight counties in the Northwest MLS report showed year-over-year gains in pending sales: Adams, Douglas, Grant, Kitsap, Lewis, Pacific, San Juan, and Walla Walla. System-wide, there were 7,724 pending sales in February, a YOY drop of 7.5%, but compared to January when brokers reported 7,394 sales, the pending volume increased 4.5%.