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The National Association of Home Builder’s index of builder sentiment fell two points in the association's February reading, coming in at 55 for the month, the group said Tuesday. NAHB Chairman Tom Woods said February's slight decline is quote--largely attributable to the unusually high snow levels across much of the nation, which may have hampered buyer activity earlier in the month. That narrative is similar to a year ago, when the confidence gauge slipped to 46 on harsh weather conditions throughout the country.
Two of the three index components dropped this month, with the measure of current sales conditions slipping one point to 61 and the gauge of buyer traffic falling off five points to 39. The component charting sales expectations didn't move, holding at 60.
Attorney General Eric Holder has given U.S. 90 days to judge whether or not they want to bring cases against specific individuals for their alleged roles in 2008's mortgage crisis, according to reports. Speaking at a National Press Club event on Tuesday, Holder said federal prosecutors who have previously brought charges against firms for selling toxic mortgage-backed securities will be given an opportunity to investigate individual employees for potential charges, Reuters reported. The announcement marks a policy shift for Holder, whose department has taken criticism from consumers and politicians frustrated with its failure to go after bank executives and some institutions following the crash.
