Mortgage Demand Drops as Rates Rise to 7.14 Percent, Near Highest Level Since 2001

With involvement rates remaining high, request for mortgages dropped during the week ended Nov. 4, according to the latest information from the Mortgage Bankers Association (MBA). The Market Composite Index, which measures owe loan-application volume, fell 0.1 percent from a week agone connected a seasonally adjusted basis, according to an MBA press release on Nov. 9. The scale fell by 2 percent connected an unadjusted basis. Mortgage rates had “edged higher” past week ...