Mortgage applications decreased 6.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending September 4, 2015.

The Market Composite Index, a measure of mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week.

The Refinance Index decreased 10% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 41% higher than the same week one year ago. The annual change is inflated due to the shift in Labor Day from the first week in September last year to the second week this year.

The refinance share of mortgage activity decreased to 56.9% of total applications from 58.7% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 6.9% of total applications.

The FHA share of total applications increased to 13.4% from 12.7% the week prior. The VA share of total applications increased to 10.8% from 9.8% the week prior. The USDA share of total applications increased to 0.8% from 0.7% the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.10% from 4.08%, with points increasing to 0.39 from 0.37 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 4.03% from 4.05%, with points remaining unchanged at 0.28 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.90% from 3.87%, with points decreasing to 0.23 from 0.32 (including the origination fee) for 80% LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.34% from 3.30%, with points increasing to 0.28 from 0.26 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs decreased to 3.03% from 3.05%, with points decreasing to 0.27 from 0.36 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.