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    Lightbulb Economic Calendar Review

    Pending home sales hit a six-month high in April, data showed on Wednesday, but falling demand for home loans due to the expiration of a popular tax credit for buyers.
    Slowdown in home sales will be temporary, citing a broadening economic recovery, low mortgage rates and strengthening labor market. Data also showed planned layoffs at U.S. companies drifting back to pre-recession levels.

    The National Association of Realtors' Pending Home Sales Index, based on contracts signed in April, increased 6 percent to 110.9,the highest level since October and above expectations of a 5 percent rise. It was the third straight month of gains.

    But applications for loans to buy homes dropped last week for the fourth straight week, holding at 13-year lows, the Mortgage Bankers Association said

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