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Mortgage applications increased 6.3 percent for the week ending Sept. 9, compared with the week prior, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The week’s results include an adjustment to account for the Labor Day holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 6.3 percent on a seasonally adjusted basis from one week earlier, the seasonally adjusted Purchase Index increased 7 percent from one week earlier, and the unadjusted Purchase Index decreased 16.2 percent compared with the previous week and was 7.2 percent lower than the same week one year ago. The Refinance Index increased 6 percent from the previous week, stopping a run of three consecutive weekly decreases. The Refinance Index is not seasonally adjusted but is adjusted for the holiday. On an unadjusted basis, the Refinance Index decreased 15.2 percent and is 23.5 percent lower than the same week a year ago.

The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.17 percent from 4.23 percent, with points decreasing to 0.97 from 1.04 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also decreased from last week. The 30-year fixed contract rate is the lowest in the history of the survey, with the previous low being 4.21 percent in the week ending October 8, 2010.

C.A.R.