Large student debt limits home buying

WASHINGTON — Younger Americans are struggling to keep up with steadily-rising student debt loads, a burden that is limits their ability to buy homes.

The Federal Reserve Bank of New York said the percentage of student loans 90 days or more overdue rose to 11.3 percent in the final three months of last year, up from 11.1 percent in the previous quarter. That’s the highest in a year. Total student borrowing now stands at $1.16 trillion, the most on record and 7.1 percent higher than 12 months earlier.

Builder confidence takes a tumble

WASHINGTON — U.S. homebuilders say sales prospects and buyer traffic fell slightly this month.

The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday slipped to 55 in February from 57 in January.

Despite the decline, builders remain relatively optimistic a month before the start of the spring buying season. Readings above 50 indicate that more builders view sales conditions as positive rather than poor. Lower mortgage rates, coupled with job gains over the past year, point to stronger sales.

Loss reported on BK, Horton deal

NEW YORK — Burger King and Tim Hortons parent company Restaurant Brands International reported a quarterly loss Tuesday, dragged down by costs related to the deal to combine the two chains, but key sales figures rose.

Restaurant Brands sees in both chains the potential to expand well-known names outside their home markets. By striking franchising deals to open more Burger King and Tim Hortons, the company hopes to drive up revenue from fees without the risks that come with operating restaurants.