BUSINESS BRIEFING / HOUSING
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TIMES WIRE REPORTS
Confidence among U.S. home builders in April increased to the highest level since October, a sign that low lending rates and government efforts to stabilize the housing market are putting a floor on the industry’s slump.
The National Assn. of Home Builders/Wells Fargo index of builder confidence rose to 14 from 9 in March, the biggest gain since May 2003, the group said Wednesday. A reading below 50 means most respondents view conditions as poor.
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