Mortgage apps multiply

Mortgage applications grew 7.5 percent last week on a seasonally adjusted basis from the week before, boosted by a surge in purchase loans, the Mortgage Bankers Association reported today.

The purchase-loan index component rose 10.5 percent Aug. 22-29, followed by a 2.1 percent increase in the refinance index, according to MBA. The government purchase index comprised largely of FHA loans jumped 19.9 percent.

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