Mortgage rates jump past 5%, signaling more home price cuts ahead
October 09, 2018 at 11:55 AM EDT
Mortgage rates moved to the highest level in 8 years, and confidence in housing is now slipping. This comes as millennials are smack in the middle of their prime home buying years. Rates are expected to move even higher headed into next year. That could, however, throw cold water on today's very hot home prices.