WASHINGTON – The refi boom may not be as over as experts assumed. Data released by the Mortgage Bankers Association for the week ending Aug. 13 showed the Market Composite Index of mortgage loan applications increased 11.9% from one week earlier, the Purchase Index was up 6.2%, and the seasonally adjusted Refinance Index increased by 20.9% from one week earlier. In addition, the MBA said the refinance share of mortgage activity increased to 40.7% of total applications from 37.2% the previous week. But while consumers continue to apply for refinance loans, a decreasing number are taking cash-out home refinancings, Freddie Mac says. In the second quarter of 2004, 39% of Freddie Mac-owned loans that were refinanced resulted in new mortgages at least five percent higher in amount that the original loan, compared to the first quarter of 2004 when an adjusted 42% of refinanced loans had higher new loan amounts.