US mortgage applications rose 3.4% last week, marking their first increase since August, as 30-year mortgage rates eased to 7.41% from 7.50%. However, September new home sales slipped to 676,000 annualized units from 680,000, and the median selling price fell 3.9% year over year. Housing inventory slightly declined to 8.4 months of supply, still indicating a weak market.