Sale of Existing Homes Off 6.1%

Sales of existing homes, hurt by a jump in mortgage rates this spring, fell 6.1% in June, the biggest decline in five months, a real estate trade group reported today.

The National Assn. of Realtors said existing single-family homes were sold at a seasonally adjusted annual rate of 3.54 million units last month, after a 5.9% increase in May. It was the fourth decline in the last six months.