The average rate on a 30-year mortgage in the U.S. surged to 6.32% this week, adding pressure on home buyers facing sky-high prices and a limited supply of houses for sale.

U.S. commercial real estate is rebounding as buyers and lenders return, driven by declining borrowing costs and the belief that property prices have hit bottom. The average rate on a 30-year mortgage in the U.

The contract rate on a 30-year mortgage increased 22 basis points to 6.36% in the week ended Oct. 4, according to Mortgage Bankers Association data out Wednesday. The rate now stands at the highest level since August.