Mortgage demand falls to nearly half of what it was a year ago, as interest rates continue to rise

A for sale sign is seen near a house for sale in South Pasadena, California on April 24, 2020.Frederic J. Brown | AFP | Getty ImagesMortgage demand continued to crumble last week, as mortgage rates climbed to their highest level since 2010. Total application volume fell 5% last week compared with the previous week and…