Rates Slipped to 7.24%. Sellers Didn't Notice.
Mortgage rates fell for the second week in a row, but if you're shopping in the DC and Maryland housing market, the relief is small and the listings aren't coming any faster. Facts over feelings, math over emotion: here's what the new 7.24% rate does to a payment in DC, Montgomery, Prince George's, Anne Arundel, Harford and Charles counties, and what sellers are (and aren't) doing about it.
What Happened: Mortgage Rates Eased to 7.24%
Freddie Mac's 30-year fixed average was 7.24% on Oct. 29, down from 7.32% last week and 7.40% on Oct. 8 and Oct. 15, according to Freddie Mac. That's real movement, but it's still more than a full point above where we were a year ago (6.17% on Oct. 30, 2025). The 2026 low was 5.98% in February.
What does the drop from 7.32% to 7.24% buy you? Not much. On a median-priced home with 10% down it trims about $21 to $29 a month, depending on the county. Nice, not life-changing.
The Real Cost: The Rate Gap in the DC and Maryland Housing Market
The bigger number is the one you can't see on a weekly chart. Take the same Sept. 2026 median list price and compare 7.24% with last year's 6.17%. In Montgomery County ($599,900, 10% down), that's roughly $383 more every month in principal and interest for the identical house. In Harford County it's about $268. Prices didn't cause that gap. The rate did.
Sellers Aren't Rushing In
You'd think a lower rate would shake loose a wave of new listings. So far it hasn't. Across these six markets, new listings in September totaled about 4,640, up roughly 1% from September 2025, based on Realtor.com data on FRED. Here's how it breaks down by county. Note that this is September data, so it doesn't capture the last two weeks of rate relief.
Washington, DC Real Estate
New listings: 1,212, down 3.7% from 1,258. DC was the only one of the six with fewer sellers than a year ago. The rate gap adds about $337 a month at the $527,500 median list price.
Montgomery County Homes
New listings: 1,198, up 1.0% from 1,186. Basically flat. The most expensive market in the set, so it also carries the biggest rate gap, about $383 a month at $599,900.
Prince George's County Real Estate
New listings: 884, up 3.0% from 858. At a $450,000 median list price the rate gap is about $287 a month.
Anne Arundel County Housing Market
New listings: 738, up 7.9% from 684, the biggest jump of the six. Median list price $524,945, rate gap about $335 a month. More supply is good news for buyers with room to negotiate.
Harford County Homes
New listings: 338, the same as last September. Median list price $419,923, the lowest of the six, and the smallest rate gap at about $268 a month.
Charles County Real Estate
New listings: 274, also unchanged from last September. Median list price $475,000, rate gap about $303 a month.
Payment figures are principal and interest only, 30-year fixed, 10% down, using Sept. 2026 median list prices. Taxes, insurance and mortgage insurance are extra. Rates are Freddie Mac's national average, not a quote.
What It Means for Buyers
A slightly lower rate with flat supply means you aren't in a bidding frenzy, but you also don't have a flood of choices. Use that. Ask your lender about a rate lock with a float-down option, and ask sellers for a buydown or closing-cost help instead of just a price cut, because a rate buydown attacks the payment directly. Start with my buyer checklist and get your numbers before you tour.
What It Means for Sellers
Don't read a one-week dip as a green light to price like it's 2022. Buyers are shopping a payment, not a headline rate, and they are still carrying hundreds of dollars more a month than last year's buyers did. Price for that payment. Curious where you stand? Get a quick value check and read 4 questions to ask before selling.
Dan's Take
This part is my interpretation, not data. Two weeks of falling rates feel good, but they're a rounding error next to the gap from last year. Sellers who are waiting for 6% before they list are mostly still waiting, which is why supply is flat. I'd rather see buyers and sellers deal with today's math than plan around a number that may not come back this year.
Final Takeaway
Rates eased to 7.24%, worth about $21 to $29 a month, while the gap to last year is $268 to $383 a month. Action item: ask your lender what your payment is at 7.24% and what it would be at 6.74%, then decide what you can carry without needing a rate miracle. Happy to connect you with lenders I trust.
FAQ: Mortgage Rates and Listings in the DC and Maryland Housing Market
What is the mortgage rate today?
Freddie Mac's weekly survey put the 30-year fixed average at 7.24% on Oct. 29, 2026. Your actual quote depends on your credit, down payment and lender.
Are there more homes for sale in DC and Maryland than last year?
Slightly. September new listings across DC, Montgomery, Prince George's, Anne Arundel, Harford and Charles were up about 1% combined, with DC down and Anne Arundel up the most.
Should I wait for rates to drop more before buying?
It depends on your payment, your timeline and your local market. Run the numbers at today's rate and at a lower one. If the payment only works at the lower one, it's too tight.
Dan Wheeler | Keller Williams Capital Properties
Contact Dan · What's My Home Worth? · Schedule a Call · (301) 806-3179
Sources: Freddie Mac Primary Mortgage Market Survey (30-year fixed, Oct. 29, 2026, via FRED); Realtor.com new listings and median listing prices via FRED (Sept. 2026 vs. Sept. 2025). Payment figures are my own calculations. For education only, not financial advice. Data as of Oct. 30, 2026.
