Mortgage Rates in Fairfax County, VA: What Buyers Should Expect in 2026
Mortgage rates in Fairfax County follow the national market. Your credit, down payment and loan size shape your price.
Short answer: the average 30-year fixed mortgage rate was 7.40% for the week of October 8, 2026, according to Freddie Mac. That is up from 6.30% a year earlier. Freddie Mac does not publish a county-level average. What you pay depends on your credit score, down payment, loan size and loan type.
By Ken Byrne, NMLS #187129 · ALCOVA Mortgage LLC, NMLS #40508 · Updated October 2026
This guide covers where rates stand, what could move them, and how Fairfax County loan limits and pricing rules change the rate you are offered.
For a quote based on your own numbers, talk to the Ken Byrne Team.
What are mortgage rates in Fairfax County right now?
Mortgage rates are set in a national market. The best public benchmark is the Freddie Mac weekly survey.
| Week | 30-year fixed | 15-year fixed |
|---|---|---|
| October 8, 2026 (latest) | 7.40% | 6.73% |
| October 1, 2026 | 7.28% | 6.60% |
| September 24, 2026 | 7.03% | 6.42% |
| September 17, 2026 | 6.95% | 6.26% |
| One year earlier | 6.30% | 5.53% |
Source: Freddie Mac Primary Mortgage Market Survey, read October 8, 2026.
The latest weekly averages on the Freddie Mac Primary Mortgage Market Survey page. Source: Freddie Mac.
The survey reflects borrowers with good to excellent credit who put 20 percent down on a home they will live in. A lower score or smaller down payment usually means a higher rate or more cost.
There is no official county-level rate survey. Treat any “Fairfax rate” you see as a lender quote, not a county statistic.
Why are mortgage rates going up in 2026?
Rates climbed through September and into October. The 30-year average went from 6.95% on September 17 to 7.40% on October 8, 2026.
On September 16, the Federal Reserve raised its policy rate by a quarter point, to a range of 3.75 to 4 percent. The Fed said the move would support a timelier return to its 2 percent inflation goal.
Source: Federal Reserve, FOMC statement, September 16, 2026.
The Fed does not set mortgage rates. An Atlanta Fed economist, quoted in a November 2025 Atlanta Fed article, said mortgage rates are more strongly linked to longer-term rates, such as the 10-year Treasury yield, than to the Fed’s rate.
Source: Federal Reserve Bank of Atlanta, “Not Joined at the Hip,” November 10, 2025.
Will mortgage rates go down in 2026?
No one can promise that. Published forecasts expected rates below today’s level, but they were made before the late-September climb.
| Forecast | Published | 30-year rate, Q4 2026 | 30-year rate, 2027 |
|---|---|---|---|
| Fannie Mae Economic and Strategic Research | September 11, 2026 | 6.8% | 6.7% |
| Mortgage Bankers Association | September 2026 | About 6.8% | Not cited |
Sources: Fannie Mae Housing Forecast, September 2026; MBA forecast as reported by Scotsman Guide and National Mortgage News, September 21, 2026. Forecasts are estimates, not guarantees.
The next Federal Reserve meetings are October 27 to 28 and December 8 to 9, 2026. Rates can move before and after each one.
Source: Federal Reserve meeting calendar.
If you buy now and rates fall later, refinancing may be an option. See should you refinance in 2026.
How does your credit score change your mortgage rate?
On a conventional loan sold to Fannie Mae, your score and down payment set an upfront charge called a loan-level price adjustment, or LLPA. Lenders pass it on as a higher rate or as points.
Purchase loan LLPAs by credit score and loan-to-value ratio, from the matrix updated September 30, 2026. The outlined column is 20 to just under 25 percent down. Source: Fannie Mae.
Here is what the charge looks like on a $600,000 loan with 20 percent down, before any other adjustments.
| Credit score | LLPA at 75.01 to 80% LTV | Cost on a $600,000 loan |
|---|---|---|
| 780 or higher | 0.375% | $2,250 |
| 760 to 779 | 0.625% | $3,750 |
| 740 to 759 | 0.875% | $5,250 |
| 720 to 739 | 1.250% | $7,500 |
| 700 to 719 | 1.375% | $8,250 |
| 680 to 699 | 1.750% | $10,500 |
| 660 to 679 | 1.875% | $11,250 |
| 640 to 659 | 2.250% | $13,500 |
| 639 or lower | 2.750% | $16,500 |
Source: Fannie Mae Loan-Level Price Adjustment Matrix, updated September 30, 2026, purchase loans with terms over 15 years. How a lender turns the charge into a rate varies.
The grid moves in 20-point steps. Crossing a line, such as 739 to 740, is what changes the charge.
For loans Fannie Mae buys from October 1, 2026, the same grid applies to Classic FICO and VantageScore 4.0 scores.
First-time buyers with income at or below 100 percent of area median income (120 percent in high-cost areas) have these LLPAs waived. HomeReady loans are waived too.
To raise your score before you apply, use our 90-day credit plan.
What are the 2026 loan limits in Fairfax County?
Fairfax County is a high-cost area. Conventional and FHA loans can go up to $1,249,125 for a one-unit home.
| Loan type | 2026 one-unit limit in Fairfax County | What it means |
|---|---|---|
| Conforming (baseline) | Up to $832,750 | Standard conventional pricing |
| Conforming high-balance | $832,751 to $1,249,125 | Still conventional, with an extra price adjustment |
| Jumbo | Above $1,249,125 | Priced by each lender, not by Fannie Mae or Freddie Mac |
| FHA | Up to $1,249,125 | Mortgage insurance on every loan |
| VA | No limit with full entitlement | Lender guidelines still apply |
Sources: FHFA, 2026 conforming loan limits; HUD, 2026 FHA limits (No. 25-145); VA loan limits page.
For a side-by-side look, read jumbo vs conforming loans in the DMV.
Do high-balance loans cost more in Fairfax County?
Yes, on a Fannie Mae loan. A fixed-rate purchase loan above $832,750 carries a separate 1.000% adjustment at 75.01 to 80 percent loan-to-value. That is on top of the credit score charge.
| Home price, 20% down | Loan amount | Type | Extra high-balance charge |
|---|---|---|---|
| $1,000,000 | $800,000 | Baseline conforming | None |
| $1,100,000 | $880,000 | High-balance | $8,800 |
| $1,250,000 | $1,000,000 | High-balance | $10,000 |
Source: Fannie Mae LLPA Matrix, September 30, 2026. Illustration only.
Some buyers put a little more down to stay at or under $832,750. Ask your lender to price both options.
What would the monthly payment be on a Fairfax County home?
Here is an example for a $750,000 home with 20 percent down, at the latest Freddie Mac average.
| Item | Monthly |
|---|---|
| Principal and interest, $600,000 at 7.40% for 30 years | $4,154 |
| Property tax at the combined 2026 county rate of $1.1535 per $100 | $721 |
| Subtotal before insurance and any HOA | $4,875 |
Assumes the assessed value equals the price. Fairfax County 2026 base rate $1.12 plus the countywide stormwater ($0.0325) and pest ($0.001) levies. Some districts add more. Figures are rounded.
Small rate moves add up on a loan this size.
| Rate | Principal and interest on $600,000 |
|---|---|
| 6.30% (one year earlier) | $3,714 |
| 7.15% | $4,052 |
| 7.40% (latest) | $4,154 |
| 7.65% | $4,257 |
Each quarter point is worth about $100 a month here. The rate rise since last year adds about $440 a month.
With less than 20 percent down you also pay mortgage insurance. See what PMI costs and when it ends.
Which loan type gets the best rate in Fairfax County?
It depends on your profile. The rate is only one part of the cost, so compare the full payment and fees.
| Conventional | FHA | VA | |
|---|---|---|---|
| Minimum down payment | 3% on some programs | 3.5% with a 580 or higher score | Typically none |
| Monthly mortgage insurance | Usually required below 20% down | Yes. 0.55% a year at 3.5% down on base loans up to $726,200, 0.75% above, for the life of the loan | None |
| Upfront fee | No upfront mortgage insurance premium; LLPAs by score and down payment may apply | 1.75% of the base loan | Funding fee, 2.15% on first use with under 5% down |
| Credit score effect | LLPA grid by score and down payment | The CFPB says FHA can cost less for lower scores with under 10 to 15 percent down | VA sets no minimum; lenders may |
Sources: Fannie Mae HomeReady fact sheet; CFPB, Explore interest rates; HUD Mortgagee Letters 2023-05 and 10-29; VA funding fee page, updated October 5, 2026; VA loan fact sheet.
Example: a $750,000 home with 3.5 percent down on FHA means a $723,750 base loan, just under the $726,200 line where the annual premium rises. A first-use VA buyer with no down payment would owe a $16,125 funding fee, unless exempt.
Program details are on our FHA loans page.
Veterans and service members can compare options on our VA loans page.
How does a mortgage rate lock work?
A rate lock means your rate will not change between the offer and closing, as long as nothing in your application changes.
The CFPB says locks are typically available for 30, 45 or 60 days, and sometimes longer. Extending a lock can be expensive.
A lock can still change if your loan type, down payment, appraisal, credit score or income changes.
Source: CFPB, What’s a lock-in or a rate lock?.
Match the lock to your contract’s settlement date, with some room for delays.
Our guide to mortgage rate locks covers lock periods, extension fees and float-downs.
Are discount points or a 2-1 buydown worth it?
Points lower the rate for the life of the loan. A 2-1 buydown lowers the payment for two years only.
Our guide to whether mortgage points are worth it walks through the break-even math.
One point equals 1 percent of the loan amount. On a $600,000 loan, that is $6,000.
The CFPB does not give a break-even rule. It suggests comparing costs over the shortest, longest and most likely time you will keep the loan.
Source: CFPB, discount points and lender credits.
| 2-1 buydown on $600,000 at 7.40% | Rate | Principal and interest | Monthly savings |
|---|---|---|---|
| Year 1 | 5.40% | $3,369 | $785 |
| Year 2 | 6.40% | $3,753 | $401 |
| Year 3 on | 7.40% | $4,154 | None |
| Cost to fund the buydown | About $14,236 |
Fannie Mae requires you to qualify at the full note rate, not the lower first-year rate. The buydown can last up to three years.
A seller can fund it, within limits. With at least 10 percent but less than 25 percent down on a home you will live in, seller and other interested-party contributions are capped at 6 percent of the price or appraised value, whichever is lower.
Source: Fannie Mae Selling Guide B2-1.4-04 and B3-4.1-02. Temporary buydowns are not allowed on investment properties or cash-out refinances.
To compare a buydown with an adjustable rate, read fixed-rate vs adjustable-rate mortgages.
How do you get the best mortgage rate in Fairfax County?
Shop more than one lender, and compare official Loan Estimates line by line.
| Step | Why it matters |
|---|---|
| Compare Loan Estimates from several lenders | In 2021 data, the CFPB found APRs among large lenders often varied by around half a percentage point |
| Shop within 45 days | The CFPB says mortgage credit checks within a 45-day window count as a single inquiry |
| Check the APR, not only the rate | The APR includes points, broker fees and other charges |
| Clear credit score thresholds before you apply | The LLPA grid changes at each 20-point step |
| Decide on points and lock length with your contract date in mind | Both change your cost |
Sources: CFPB blog, May 24, 2023; CFPB, What happens when a mortgage lender checks my credit?; CFPB, mortgage interest rate vs APR.
Freddie Mac research published in 2023 estimated that, in late 2022, borrowers who got one extra quote could have saved as much as $600 a year. Those with four or more quotes could have saved over $1,200 a year.
Source: Freddie Mac Research, February 16, 2023.
Learn where each fee sits in how to read your Loan Estimate.
Before you shop for rates, get your letter in order. See pre-qualification vs pre-approval.
Get a Mortgage Estimate for Free
See the rate and payment that fit your credit and down payment, before you make an offer.
✓Free, no obligation✓Licensed in VA, MD, DC and WV✓Loan officer Ken Byrne, NMLS #187129
Frequently asked questions
What is the mortgage rate in Fairfax County today?
Freddie Mac’s 30-year average was 7.40% for the week of October 8, 2026. Your own rate depends on your credit, down payment, loan size and loan type.
Are mortgage rates going down?
Not lately. The 30-year average rose from 6.95% on September 17 to 7.40% on October 8, 2026. September forecasts expected about 6.8% for the fourth quarter, but they are estimates.
Does the Federal Reserve set mortgage rates?
No. The Fed sets a short-term policy rate. Mortgage rates track longer-term rates such as the 10-year Treasury yield more closely.
What is the conforming loan limit in Fairfax County for 2026?
$1,249,125 for a one-unit home. Loans above the $832,750 baseline are called high-balance and carry an extra price adjustment.
What credit score gets the best conventional rate?
On Fannie Mae’s grid, 780 or higher has the lowest charge. At 20 percent down, the charge still runs 0.375% of the loan.
How long can I lock my mortgage rate?
The CFPB says locks are typically 30, 45 or 60 days, and sometimes longer. Extensions can be expensive, so ask about the cost of each lock length.
Is a 2-1 buydown a good idea?
It lowers your payment for two years, and a seller can pay for it. On a Fannie Mae loan you still qualify at the full rate, and the payment rises in year three.
Is it better to wait for rates to drop before buying?
No one can time rates. If you buy now and rates fall, refinancing may help, but it has its own costs.
Do mortgage rates differ between Fairfax and Loudoun County?
There is no official county-level rate survey. Your rate comes from your loan and your profile.
This article is general information, not financial or legal advice and not a commitment to lend or an offer of credit. Rates, loan limits and pricing rules change, and your terms depend on a full review of your credit, income, assets and the property. Payment figures are illustrations built from published sources and a weekly survey average, not quotes. Confirm anything you plan to act on with a licensed mortgage professional. Rates, limits and pricing rules were read on October 8, 2026.
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