housing market slowdown

The average rate on the 30-year fixed mortgage hovered above its record low for a sixth straight week. But the super-low rates aren't providing a lift to the struggling housing market. Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.

The Federal Reserve's latest Beige Book data confirms what other recent economic reports have suggested: The U.S. economic recovery slowed somewhat in the second quarter, with some regions reporting stalled conditions.