Mortgage apps surge

Demand for refis, purchase loans up

Mortgage applications surged a seasonally adjusted 21 percent last week on increased demand for both refinancings and purchase loans, the Mortgage Bankers Association said today in releasing the results of its Weekly Mortgage Applications Survey.

Applications for refinancings were up 26.3 percent for the week ending Jan. 29, and the seasonally adjusted purchase index was up 10.3 percent from a week earlier.