Hampton Roads Home Financing Report: October 2026

November 10, 2026 · 4 minute read

Mortgage rates eased in October, with the 30-year average ending at 7.27%. Plus 2026 loan limits for Hampton Roads and 3 takeaways for buyers and agents.

Mortgage rates eased in October, with the 30-year average ending at 7.27%. Rates as of Friday, October 30, 2026 market close, Mortgage News Daily. Market averages, not our rates and not an offer of credit.

Mortgage rates in October

The average 30-year fixed rate fell 0.33 percentage points in October, from 7.60% at the September 30 close to 7.27% at the October 30 close, according to Mortgage News Daily's daily index. It averaged 7.43% across 22 trading days, with a low of 7.27% on October 30 and a high of 7.61% on October 5, so the month ended at its low. That monthly average was 0.24 points above September's 7.18%.

The 10-year Treasury yield, which mortgage rates tend to follow, fell from 5.29% to 4.93% over the same stretch. The gap between the 30-year average and the 10-year yield averaged 2.30 percentage points for the month.

Other loan types moved with it: the 30-year FHA average fell to 6.90% from 7.25%, the 30-year VA average fell to 6.91% from 7.25%, the 15-year fixed average fell to 6.92% from 7.22%, and the 30-year jumbo average fell to 7.55% from 7.66%.

Market averages at a glance

30-year fixed average: averaged 7.43%, ranged from 7.27% to 7.61%, and closed October at 7.27%.

15-year fixed average: averaged 7.08%, ranged from 6.92% to 7.23%, and closed October at 6.92%.

30-year FHA average: averaged 7.07%, ranged from 6.90% to 7.24%, and closed October at 6.90%.

30-year VA average: averaged 7.08%, ranged from 6.91% to 7.25%, and closed October at 6.91%.

30-year jumbo average: averaged 7.63%, ranged from 7.55% to 7.71%, and closed October at 7.55%.

10-year Treasury yield (benchmark, not a mortgage rate): averaged 5.13%, ranged from 4.93% to 5.30%, and closed October at 4.93%.

Local housing numbers

Locally, REIN (Real Estate Information Network) reported a median sale price of $370,180 (up 2.26% from $362,000 in October 2025), 1,899 closed sales, homes selling in a median 37 days on market, 6,603 active listings, 1,704 pending sales, and 3.11 months of supply for Hampton Roads in October.

Source: REIN (Real Estate Information Network), https://www.reinmls.com/sites/default/files/documents/Press%20Release/2026/November/REINNewsRelease_November2026.pdf

2026 loan limits in the areas we serve

In Hampton Roads, the 2026 limits for a one-unit home are $832,750 for a conforming loan and $757,850 for an FHA loan.

Most counties in Virginia, North Carolina, Michigan, Ohio, and West Virginia use the national 2026 baseline of $832,750 for conforming loans and the FHA floor of $541,287.

Washington-Arlington-Alexandria, DC-VA-MD-WV: $1,249,125 conforming, $1,249,125 FHA.

Perquimans County, NC: $832,750 conforming, $805,000 FHA.

Virginia Beach-Chesapeake-Norfolk, VA-NC: $832,750 conforming, $757,850 FHA.

Kill Devil Hills, NC: $832,750 conforming, $718,750 FHA.

Richmond, VA: $832,750 conforming, $707,250 FHA.

3 takeaways for buyers and agents

1. Lower averages can widen a buyer's price range. Buyers who stepped back earlier may want a fresh pre-approval before the next listing they love comes up.

2. Rates moved 0.34 points between the month's low and high. When the market swings like this, lock timing matters, so ask how rate locks work before going under contract.

3. Know the 2026 limits. In Hampton Roads, the 2026 limits for a one-unit home are $832,750 for a conforming loan and $757,850 for an FHA loan. A loan above the conforming limit is a jumbo loan, which comes with its own guidelines.

Austin's take

"Prices are still climbing a little each year here. If owning is on your list, the best first step is a conversation and a real pre-approval." Austin Frangoules, Founder, East Coast Mortgage.

About this report

The Home Financing Report is published monthly by East Coast Mortgage. Sources: Mortgage News Daily daily rate index (market averages, as of the Friday, October 30, 2026 close); FHFA and HUD 2026 loan limits; REIN (Real Estate Information Network). Compiled by East Coast Mortgage. Rates shown are national market averages published by Mortgage News Daily. They are not East Coast Mortgage's rates, not an offer or commitment to lend, and not an advertisement of specific credit terms. Your actual rate depends on your scenario and qualification.

Free guides: The Homebuyer's Playbook (ecomortgage.com/guides/homebuyer-guide), The Agent's Edge (ecomortgage.com/guides/realtor-partner-guide), The Investor's Financing Playbook (ecomortgage.com/guides/investor-guide).

Download this report as a PDF: https://puxytwoeyovlkbbyfdpi.supabase.co/storage/v1/object/public/market-reports/2026-10/East-Coast-Mortgage-Home-Financing-Report-2026-10.pdf

East Coast Mortgage | NMLS 2354674 | Licensed in VA, NC, MI, OH, WV | nmlsconsumeraccess.org | Equal Housing Lender.

Written by a real loan officer

Austin Frangoules, NMLS #2363718

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General information, not advice for your specific situation. Program rules come from the agencies above and from each lender, and they change. A licensed loan officer confirms what applies to you.