trillion in July, up from 3% in June, the Federal Reserve Board reported Wednesday.

Credit card debt increased $5.9 billion in July, to $583.6 billion, the largest increase since November 1996, according to the Fed. Nonrevolving credit grew $3.1 billion, to $770.8 billion.

Separately, the Mortgage Bankers Association said applications for the week that ended Sept. 3 fell 13.8% from the previous week and were off 49.3% from the same week last year.

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