General contractors and other small businesses in the home remodeling industry can expect revenue to slow in 2019, the result of rising mortgage rates and sluggish home sales. The center's index of remodeling activity projects spending on renovations and repairs will gradually slow into the third quarter. Rising interest rates are affecting both home sales and remodeling. Home mortgage rates are at their highest levels in more than seven years, with the 30-year mortgage close to 5 percent. The Realtors said their pending home sales index fell 1.8 percent last month to 104.2.

Source: ABC News October 22, 2018 14:47 UTC