Refis help Countrywide fund most loans since August

Countrywide Financial Corp. released numbers today showing a refinancing boom helped push February mortgage loan fundings up 16.9 percent from the month before, to $25.6 billion, but purchase-loan activity fell to a new low.

Countrywide said refinancings grew 29.2 percent in February, to $19.5 billion, helping the company post the best numbers for total mortgage fundings since August.

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