WASHINGTON — U.S. single-family homebuilding rebounded sharply in February, hitting the highest level in nearly two years, amid mild temperatures and a persistent shortage of previously owned houses on the market. Homebuilding could gain further momentum this year, with mortgage rates likely to continue their downward trend on expectations that the Federal Reserve will start cutting interest rates by June, and contribute to economic growth. The report from the Commerce Department on Tuesday also showed permits for the future construction of single-family housing units rose to more than a 1-1/2-year high last month. …Single-family housing starts, which account for the bulk of homebuilding, surged 11.6% to a seasonally adjusted annual rate of 1.129 million units last month, the Commerce Department’s Census Bureau said. That was the highest level since April 2022.