What if you could save $150 a month on the same house—without changing your budget or lifestyle?
That’s exactly what’s happening right now. Mortgage rates have slipped to their lowest point in 11 months, giving homebuyers in Northern Virginia and the Eastern Panhandle more purchasing power than they’ve had in nearly a year.
Let’s break down why this matters for you.
What Happens When Mortgage Rates Drop?
Think of mortgage rates as the price tag on borrowing money.
- When rates are high, your monthly payment rises.
- When rates drop, even slightly, your monthly payment shrinks.
That shift gives you two powerful options:
- Spend less each month for the same home.
- Buy more home while keeping your budget the same.
How Much Home Can You Afford?
Let’s look at the math with a $3,000/month housing budget:
- At 6.9% (June): You could afford a $446,000 home.
- At 6.5% (August): That same budget bought a $460,500 home.
- At 6.27% (Now): You can afford $468,000.
In just three months, buyers have gained $22,000 in purchasing power—without raising their budget.
Monthly Savings Add Up Fast
Now, let’s look at it locally:
Loudoun County:
- Median home price in Loudoun in 2025: $775,000
- Payment at 6.9%: $5,214
- Payment at 6.27%: $4,956
- Monthly savings: $258
Jefferson County:
- Median home price in Jefferson in 2025: $385,000
- Payment at 6.9%: $2,590
- Payment at 6.27%: $2,462
- Monthly savings: $128
Over 30 years, that’s tens of thousands of dollars saved in either scenario.
Those extra dollars could go toward:
- Building a rainy-day fund
- Paying down high-interest debt
- Boosting your retirement savings
- Planning a vacation or big milestone purchase
Is This Your Window to Buy?
Mortgage rates don’t usually fall this low by accident. Recent economic shifts created a rare opportunity for buyers.
- Lower rates = more affordability
- More affordability = more options
If you’ve been waiting for the right time to jump into the market, this might be your sign.
Bottom Line
Mortgage rate drops boost your buying power in a big way. Whether that means stretching your budget further or saving more each month, today’s rates could be the break you’ve been waiting for.
Curious how much more home you can afford right now? Schedule a buyer strategy session with our team, and we’ll run the numbers for your exact budget and neighborhood goals.