Congress

Builder Confidence Shoots Up; Skepticism Abounds 

Builder confidence continued to rise in February, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI increased from 35 in January to 40 in February, up from a low of 30 last September and the highest level since June of 2006, the Association reported. In speaking with industry sources, Housing Wire found most were skeptical that an increase in builder confidence would amount to an improvement of conditions in the mortgage banking industry in the near term, although most expressed hope that increasing confidence might represent a “eventual light at the end of the tunnel,” as one source described it.