Lower Interest Rates Boost Home Sales: Declining...

Lower Interest Rates Boost Home Sales: Declining mortgage rates boosted sales of existing homes in July for the first back-to-back monthly increases this year, a real estate trade group said in a report. The National Assn. of Realtors said existing single-family homes sold at a seasonally adjusted annual rate of 3.40 million units in July, a 1.2% increase over revised figures for June that showed a 4.7% increase to 3.36 million units annually. The June-July improvement followed consecutive sales declines in the first five months of the year.