New-home sales slipped 2.1% in November, the Census Bureau said last Tuesday.
Builders sold homes at a seasonally adjusted annual rate of 464,000 last month, down slightly from October's 474,000.
Since the Federal Reserve began signaling in May that it would reduce its monetary stimulus, 30-year mortgage rates have climbed to 4.47% from 3.51%. That's one of the reasons that the US housing market has been stalling.
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