Amid a drop in the unemployment rate to the lowest level in nearly 50 years and two consecutive quarters of annualized gross domestic product growth exceeding 3%, other indicators are flashing warning signs. New home sales fell for the fifth consecutive month in October, dropping an estimated 12% from the level in October 2017. One factor is surely mortgage rates: Thanks in part to the Federal Reserve’s hikes in interest rates this year, rates for many conventional mortgages are climbing toward 5% after having bottomed out at just above 3% in 2012.

Source: Los Angeles Times December 27, 2018 13:52 UTC