Good Tuesday morning. Welcome to Squawk on the street. I'm Sarah Eisen with Carl Kintania and David Faber. We are live as always from post nine of the New York Stock Exchange. We're also moments away from an exclusive interview with NVIDIA CEO Jensen Wong, the company projecting $1 trillion in chip sales by the end of next year.

He'll sit down with our Jim Kramer in just a few minutes.

Plus, day one of the Fed meeting, we will look at how the Iran war could impact the picture for the economy and rates.

And Apollo's Torstion Slok will be here with new data on why recessions are becoming less frequent

and what that ultimately

means for investors. First of all, let's get some pending homes data with Diana. Hey, Diana.

Good morning, Carl. Pending home sales in February rose 1.8% month to month, but we're down 0.8%

from February of last year, that according to the realtors. Now, this count is based on contract

signing, so people out shopping during the month when mortgage rates were falling to multi-year

lows. The average on the 30-year fixed, even dipping below 6% briefly. That is not the case now,

and the realtors did make note of that, saying the improved affordability could make a U-turn

if oil prices and

interest rates continue to rise. Now, sales were strongest month to month in the Midwest and South.

Those are the regions where housing is most affordable. Market seeing the strongest annual gains,

San Diego, Jacksonville, San Jose, Denver, Miami, and Phoenix. Now, just a note, as we head

into the all-important spring sales season for housing

apartment rents are softening, and that has landlords now giving more concessions, in fact,

the highest level in over a decade as vacancies rise. For more on that, and how trouble in

private credit could mean a big boost for commercial real estate. That is all in today's new

Property Play newsletter. If you haven't signed up, go to it.cbc.com forward slash property play.

Sarah? Okay, we'll do. Thank you, Diana. Diana Oleg. Guys, it's day one of the Fed meeting.

So I thought I would take a look at how expectations have changed in the market for what the Fed's going to do this year

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