U.S. housing starts rebounded more than expected in April as mortgage rates near historic lows and rising job growth spurred home sales.
The 11 percent increase brought the annual pace of new construction to 2.038 million, the Commerce Department said today in Washington. Starts fell almost 18 percent to 1.836 million in March, the biggest drop in 14 years, after wet weather and the Easter holiday curbed building. The median forecast called for 2 million starts in April.
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