Despite rock-bottom mortgage rates, homebuying stalled in April. It shows how the housing recovery has left many out in the cold.

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The average mortgage rate in April hit its lowest mark in more than a year, but that didn’t stop home-sales from sliding. Existing home sales fell to a seasonally adjusted annual rate of 5.19 million, a 4.4% decline from April of last year, according to the National Association of Realtors.

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