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>> and the maker of eclipse gum getting hit with something like a $7 million settlement they had to pay out. we'll tell you why you might soon be getting paid by the makers of your chewing gum, top of the hour, 1:00 p.m., see you then. patti ann: "happening now" in the top box the iran nuclear showdown and word today tehran's chief negotiator has a proposal for the european union, why iran is willing to hold talks on its controversial nuclear program as early as september. good news on the housing front, mortgage rates fell to new record lows, the average rate for a 30-year fixed loan is 4.5...

Mortgage rates have hit a new record low, the lowest in fact in 50 years, freddie mac says the average rate on 30-year fixed loans fell to 4.57%, despite the low rates, home sales have remained low since the tax credit expired back in april. the warm weather coupled with holiday sales up, however the gap was among several stores with some modest sales, or the sales remained flat. that's it from cnbc, for now, first in business worldwide, we'll be back later on. chris, back to you. now here's a look at some of your top stories this thursday. mother nature is finally giving the northeast a bit...

$168 billion in continued stimulus in the president's 2011 budget, according to the heritage foundation. and the administration supporting another $100 to $200 billion more in unemployment benefit and other spending measures but the congress has not approved the last item because of the continued voter concern about the deficits. >> shannon: so much of it goes back to the november election. >> it does. >> shannon: peter barnes, great to see you. freddie says average rate for 30-year fixed loan dropped to 4.57%. retail numbers for june are described as mixed. department stores did well and disc...

About the deficit. >> well, he should focus on small businesses and say, listen, we'll give you a tax break. we'll give you short-term relief in your debt and we're going to extend short-term credit to small and mid-size businesses, which is our conversations that he has not yet had today. these are absolute things that he could do immediately that would have short term and long-term effects on the economy. what the president has done is taken short-term steps things like cash for clunkers or checks in your mail and these other short-term fixes are creating demand strikes. >> good to see you a...