From Washington's economists last week came news that the slipping U.S. home-building industry may finally have hit bottom and bounced back. Preliminary estimates of housing starts in April show an increase of about 20,000 units more than in March, the first sizable increase in eight months. To give the bounce even more lift last week, the House passed and sent to the Senate an omnibus housing bill that will 1) sharply lower Federal Housing Administration-insured mortgage down payments, and 2) increase the mortgage buying power of the Government's Federal National Mortgage Association by another $1.25 billion to $2.85 billion.
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