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  • Mortgage Rate Forecast: Predictions for the Housing Market Through 2028

    Mortgage Rate Forecast: Predictions for the Housing Market Through 2028

    The average 30-year fixed mortgage rate is expected to remain in the mid-6% range through 2028 due to inflation and geopolitical tensions. Rates above 6% will persist, limiting significant drops. Home prices are forecasted to rise modestly, with increased inventory easing competition. Refinancing is unlikely to be beneficial unless switching loan types or accessing equity. Buyers should budget for fluctuating rates, and sellers face challenges due to higher current rates compared to existing mortgages.

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  • Homebuyers Stay Selective Amid Stable Mortgage Rates

    Homebuyers Stay Selective Amid Stable Mortgage Rates

    Mortgage demand declined 2.2% as the 30-year fixed mortgage rate rose slightly to 6.58%, keeping refinance and purchase activity subdued. Refinance volume fell 4% weekly but remained 8% above last year, while purchase applications dropped 1% but were 5% higher year-over-year. VA loan applications increased 5%, boosting government purchase volume. Jumbo and 15-year fixed rates moved modestly, with geopolitical tensions potentially influencing future rate changes.

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  • States with the least—and most—housing market inventory heading into the fall

    States with the least—and most—housing market inventory heading into the fall

    Nationally aggregated housing inventory increased by 2.1% year-over-year from July 2025 to July 2026, slowing significantly from the 24.7% growth seen the previous year. Inventory remains 9.1% below pre-pandemic 2019 levels, with some regions like the Midwest and Northeast still relatively tight. Active inventory rose by 23,465 homes from July 2025 to July 2026, compared to 218,514 the prior year.

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  • Virginia Needs More Housing

    As someone deeply involved in the Northern Virginia real estate market, I see firsthand how the need for more housing stretches across every corner of our state—urban, suburban, and rural alike. Our region may have its own character, but the challenge of meeting growing demand is something we share with Hampton Roads and beyond. Rising transportation congestion and an influx of new residents only add to the pressure. In places like Hampton Roads, it’s especially tough for families facing stagnant wages while home prices keep climbing. Expanding housing options at different price points and types would not only help ease affordability concerns, but also boost local jobs and reinforce Virginia’s reputation as a wonderful place to call home. This is a moment for all of us—policymakers, developers, and community members—to prioritize housing supply and work together for solutions that benefit everyone.

  • Northern Virginia Housing Market Diverges from National Trends in July

    Northern Virginia Housing Market Diverges from National Trends in July

    July brought some interesting shifts in the Northern Virginia housing market, diverging from what we’re seeing nationally. Inventory here climbed by 19.6%, with most of the increase in condos and attached homes. At the same time, sales dipped slightly—down 1.9%—and the median price inched down 1.3%, settling at $750,000. Notably, homes are still moving quickly, with an average of just 21 days on the market and only 2.13 months of available inventory—much tighter than the 4.6-month supply nationally. As someone deeply connected to the rhythms of Prince William County and Northern Virginia, I’m always tracking these nuances to help my clients navigate each turn in the market with confidence and clarity.

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