Some breaking news on pending home sales in june. Lets head straight to the market desk where julie hyman has been one and the data. Julie weaker than estimated. 2 . Crease of two on the one hand, we have very low Mortgage Rates and on the other hand, rising prices seems to be offsetting any gains from the historically low Mortgage Rates. Coming in below estimates for the month of june. In the meantime, we see all three major averages higher. In the meantime, we have been watching apartment landlords on the real estate front. Stocks been watching like Equity Residential which came out with earnings earlier. It seems as though the issue for many of these companies is manhattan in san francisco, they are seeing greater than equityated weakness, residential cutting its forecast for the third time this year, offering a lot of incentives to renters to try and get them to rent here. Are under pressure and i just want to pair that with the pending home sales number we just got. It is interest
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