US mortgage applications fell 4.1% in the week ended Sept. 11 as the average 30-year fixed mortgage rate rose 12 basis points to 6.97%, Mortgage Bankers Association data showed. Refinancing applications dropped 8.8% and purchase applications declined 0.8%, while a separate Freddie Mac survey put the 30-year rate at 6.76% around Sept. 10. Mortgage rates have since approached 7% for a fifth consecutive year, contributing to sharply cooler housing activity; existing-home sales in the prior month were the weakest in more than a year. The Federal Reserve raised interest rates Wednesday, replacing the earlier expectation in the existing record for a Sept. 16 increase.