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Refinancing Fades as Home Equity Surges
Late-Q3 mortgage rates moved near 7% after a quarter-point central bank hike to ~4%, making refinances tougher for homeowners who locked lower first mortgages earlier.
Application activity reflected that shift: refinance requests ↓~9% in the prior week, purchase requests ↓~1%, total demand ↓~4%, and refis were ~39% of applications.
Over the 3 mo through Mid-Q3 2026, one inquiry index showed refis at ~2%, down from ~39% yearly, while home-equity products reached ~76%.
Equity demand kept building: Mid-Q3 inquiry volume ran ↑~11% MoM and >150% yearly, while 30-yr lender gaps exceeded 1 point, or ~$333 monthly on $400K.
Late-Q3 also brought softer builder sentiment, with the index at its lowest since 2025, while the 10-yr Treasury topped ~5%, keeping mortgage swings in focus. -
U.S. Builder Sentiment Hits 12-Month Low
In Late-Q3, a builder-confidence index fell 3 points to 32. Current sales conditions slipped to 35, while six-mo sales expectations dropped to 37.
Prospective buyer traffic held at 23. Meanwhile, 38% of builders nationwide cut prices, and two-thirds used incentives, up from 63% in Mid-Q3.
Mortgage applications for new-home purchases declined for a fifth straight mo in Mid-Q3 as avg. 30-yr rates hovered in the high-6% range.
Large builders kept leaning on builder-paid rate buydowns, helping buyers secure below-market mortgages and supporting sales without relying solely on broader new-home price cuts.
With 30-yr rates near 7% in Late-Q3, two housing forecasters expected them to stay in the high-6% range or higher through 2027. -
Manassas – Most Affordable Homes of September 2026
Manassas — Most Affordable homes for September 2026.
Listings (sorted by price):
1. Listing VAPW2129878 — $149,900
2. Listing VAPW2131590 — $199,900
3. Listing VAPW2130354 — $204,990
4. Listing VAPW2126818 — $229,000
5. Listing VAMN2011290 — $249,900
6. Listing VAMN2011674 — $250,000
7. Listing VAMN2011864 — $259,000
8. Listing VAMN2011626 — $265,000
9. Listing VAMN2011810 — $265,000
10. Listing VAPW2111616 — $265,000
11. Listing VAMN2011812 — $266,888
12. Listing VAMN2011638 — $269,900
13. Listing VAMN2011830 — $269,999
14. Listing VAPW2131040 — $274,900
15. Listing VAMN2010950 — $275,000 -
What buyers and sellers need to know as housing market conditions change
As someone who's spent 25 years helping clients find the right fit—whether you're buying your very first place, moving up, or getting ready for a new chapter—I've seen how the rhythms of the housing market shift. These days, the home-buying season stretches well past Labor Day, driven by real life and local changes rather than the old calendar. For buyers: with AI-edited photos becoming more common, it's more important than ever to tour homes in person before making decisions. Sellers may need to revisit their pricing strategy as inventory rises, and having a trusted local agent on your side is essential. My approach has always been grounded, practical, and focused on what matters most to you—because as life changes, so should your home.
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Honoring the Significance of Indigenous Day
Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities. -
Your Home’s Equity Could Be Worth More Than You Think
As someone who’s helped hundreds of clients navigate their next chapter, I’m often asked about the real value tucked away in a home—its equity. Home equity is simply the difference between what your home is worth and what you still owe on your mortgage, and it often grows alongside you. What many don’t realize is how flexible this resource can be. Whether you’re thinking about consolidating debt, updating your space, funding education, handling unexpected medical expenses, or even launching a business, your home’s equity could be a powerful ally—usually offering lower interest rates than other options. With 25 years in real estate, I’ve seen firsthand how harnessing this hidden wealth can open new doors for every stage of life.
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Key Takeaways: August 2026 Virginia Home Sales Report
August brought some notable changes to Virginia’s housing market. Closed home sales dipped by 4.6%, settling at 8,985 for the month, yet year-to-date sales are actually up 3.6%. The median home price continues its steady climb—now at $449,000, a 4.4% increase. We’re also seeing a 13.8% rise in active listings, which means more choices for buyers, though higher mortgage rates have cooled the pace of transactions across the board.
After 25 years in Virginia real estate, I know firsthand how these shifts can impact every stage of life—whether you’re buying your first home, looking to move up, or considering a change that fits your next chapter. Staying grounded and well-informed is essential, especially when the market feels unpredictable. As always, I believe that thoughtful decisions—guided by clear communication and a deep understanding of our local trends—are key to building long-term wealth through homeownership.
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US Existing Home Sales Hit a 14-Month Low
We’re seeing a notable shift in the housing market: existing-home sales across the US dipped to a 14-month low in Mid-Q3, dropping below 4 million—a 2% decline month-over-month, with a 3.98 million annualized pace. For buyers, this means more listings to choose from, as nationwide supply has grown to 4.9 months. The average 30-year fixed mortgage hovered near 7%, yet the median home price set a Mid-Q3 record at $429,100, driven by strong activity in higher price ranges.
What does this mean for those considering their next move? Rising wages and steady job gains are still supporting demand, but a larger pool of homes is giving buyers—especially first-timers—more room to negotiate. In fact, first-time buyers made up 30% of purchases in Mid-Q3, with cash deals at 27%, and homes typically spent 31 days on the market.
After 25 years of guiding clients through every market cycle, I know firsthand how these trends can shape your strategy—whether you’re buying your first home, upsizing, or planning your next chapter. Clear communication and a grounded approach remain essential to making the most of today’s opportunities.
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Mum Mum Restaurant
If you're exploring Manassas or already call this area home, I highly recommend checking out Mum Mum Restaurant—a true local Thai gem. Over my 25 years serving Gainesville and the surrounding communities, I've learned that discovering neighborhood favorites like this can make you feel truly connected to your new place. It’s these special spots that help turn a house into a home, whether you’re moving in for the first time or just looking to enjoy what the community has to offer. Thoughtful touches—both in dining and in real estate—really do make all the difference.
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