Mortgage applications increased last week after adjustment for the Labor Day holiday, according to the Mortgage Bankers Association Weekly Mortgage Applications Survey released yesterday.

The market composite index, seasonally adjusted, rose 9.5% to 496.2 from 453.1 one week earlier. On an unadjusted basis, the index decreased 13.6% from the previous week and was down 24.4% from Labor Day week last year.

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