Mortgage applications rose 4.2% to 735.9, in the week ended Feb. 4. Refinancing applications rose 7.8% to 2,430.7. The purchase index rose 1% to 444.6. Refinancings accounted for 48.9% of the week’s total applications.

Fixed 30-year mortgage rates averaged fell to 5.48% from 5.61% last week.