Mortgage applications up 6.6%

Demand for purchase loans, refis surges

Increased demand for both purchase and refinance loans drove a 6.6 percent increase in mortgage applications last week, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Applications Survey.

Requests for purchase loans were up 7.3 percent from the previous week during the week ending June 19, and applications for refinancings rose 5.9 percent. Compared to a year ago, applications for mortgages are up 17.2 percent, the MBA said.