U.S. Builder Confidence Held Back by Lack of Credit

Confidence among U.S. homebuilders stagnated in January, reflecting a lack of credit that threatens to hold back construction this year.

The National Association of Home Builders/Wells Fargo sentiment index registered a reading of 16, the same as the past two months and less than the median forecast of economists surveyed by Bloomberg News, data from the Washington-based group showed today. Readings below 50 mean more respondents said conditions were poor.