U.S. housing market showing more signs of stabilization…mortgage rate falls for sixth straight week remaining below ‘psychological tipping point’ of 5%…

(Source: Reuters)

U.S. mortgage applications nudged higher last week, data from an industry group reported on Wednesday, as consumers showed a subdued reaction to the lowest interest rates in six months.

The Mortgage Bankers Association said interest rates on 30-year fixed-rate mortgages, the most widely used loan, fell for a sixth straight week, remaining below the 5 percent level, widely viewed as a psychological tipping point.

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