US home builders' sentiment slips in February

Washington

CONFIDENCE among US home builders dropped in February as rising interest rates dampened the market's optimism, according to data on Wednesday from the National Association of Home Builders (NAHB)/Wells Fargo.

Builder sentiment gauge slipped to 65 (forecast was 67) from 67 in January; readings above 50 indicate more respondents report good market conditions. Current sales measure dropped to 71 from 72. Gauge of prospective buyer traffic was at 46 after 51. Six-month sales outlook index fell to 73 from 76.