Luminent Mtg Cap Inc (fka LUMC)

[rschmidty6]

Is the Housing bottom in?

http://www.marketwatch.com/news/story/pending-home-sales-index-rises/story.aspx?guid=%7B45D708B4%2DCD32%2D40F4%2D9603%2D232B3B9DF723%7D&dist=hplatest

WASHINGTON (MarketWatch) -- In a sign that the U.S. housing market may strengthen in coming months, an index of sales contracts on previously owned U.S. homes rose 5.3% in June from the prior month, the National Association of Realtors reported Thursday. The index, which is considered a leading indicator of existing home sales, was down 12.3% from the June 2007 level. Pending home sales in June rose in all regions, with a gain of 9.3% in the South, 4.6% in the West, 3.4% in the Northeast and 1.3% in the Midwest. The May pending home sales index was revised to a decline of 4.9% from the prior estimate of a 4.7% drop