Mortgage rates in the U.S. surged to the highest level in a month.
The average for a 30-year loan was 2.87%, up from 2.77% last week and the highest since July 15, Freddie Mac said Thursday. Mortgage rates have been below 3% since the beginning of July.
Such a small increase in mortgage rates should have little impact on home purchases, but it will dampen mortgage refinancings.
Or dampen the home price bubble.