Mortgage Rates in 2026: Should You Buy Now or Wait?

If you've been watching the Vancouver, Washington housing market from the sidelines, wondering when the "right time" to buy will be, you're not alone. As we navigate through 2026, many Clark County homebuyers are asking themselves the same question: Should I make my move now, or wait for rates to drop even further?

My honest answer for most buyers in 2026 is yes, buying now can make sense.

Not because mortgage rates are perfect. Not because the market is “on sale.” But because the conditions we’re seeing right now in Clark County finally allow buyers to make thoughtful, well-negotiated decisions without the chaos, pressure, or bidding wars of recent years.

As we move through 2026, the question isn’t really about waiting for rates to drop another fraction of a percent. It’s about whether today’s combination of stable pricing, increased inventory, predictable rates, and long-term tax advantages aligns with your life, finances, and goals. For many buyers in Vancouver and Clark County, it does — and here’s why.

Where Mortgage Rates Stand Right Now

As of early 2026, 30-year fixed mortgage rates are hovering around 6.23%, which represents a modest improvement from where they sat through much of 2025. While this might seem high compared to the historically low rates of the pandemic era (remember those sub-3% days?), it's important to put these numbers in perspective.

The Mortgage Bankers Association projects that rates will remain relatively stable at around 6.4% throughout 2026, while Fannie Mae offers a slightly more optimistic forecast, predicting rates could dip to 5.9% by the end of the year. The reality is that most experts agree: we're likely looking at rates staying in the 6% to 6.5% range for the foreseeable future.

What's Happening in Vancouver and Clark County

Vancouver, WA offers stunning views and easy access to both urban amenities and natural beauty

Our market has found a healthy balance. We're no longer seeing the frenzy of 2021-2022, where homes sold in days with multiple offers over asking price. Instead, homes are averaging around 66 days on the market, which means you actually have time to make thoughtful decisions.

What's even more telling is that Clark County now has about 2.8 months of housing inventory, with significantly more active listings than we had two years ago. While this is still technically seller's market territory, the increased inventory represents a dramatic shift from the supply-starved conditions of recent years.

Why Vancouver, WA is Different from Portland

One of the most interesting trends I'm seeing is how Vancouver continues to outperform Portland. While Portland home prices have declined, Vancouver prices have remained steady and are even starting to increase again, with a 38% five-year upward trend in price per square foot.

Why? Vancouver offers the perfect combination: access to Portland's job market without Oregon's income tax, more affordable housing than the Portland metro core, and a strong sense of community. Buyers from Seattle, Portland, and even California continue to discover what we already know—Vancouver is one of the Pacific Northwest's best-kept secrets.

The Good News for Clark County Buyers in 2026

• More Inventory Than We've Had in Years: The days of seeing only three homes in your price range are behind us. We have 905 more residential listings available now than we did two years ago. This gives you real choices and actual negotiating power.
• Wages Outpacing Home Prices Nationally: For the first time since the Great Recession, income growth is expected to outpace home-price growth for a sustained period.
• Time to Make Smart Decisions: Remember the pressure of 2021, when you had to make an offer within hours? Those days are gone. You now have breathing room to conduct thorough inspections, compare options, and negotiate terms.
• A Market That Appreciates: Unlike many markets that saw price corrections, Vancouver has maintained its value with steady, sustainable growth.

Understanding Our Local Inventory

From downtown condos to waterfront properties, Vancouver has options for every lifestyle

The Tax Advantage Nobody Talks About Enough

This tax advantage alone makes Vancouver homes more affordable than comparable Portland properties, even if the sticker price looks similar.

But What If Rates Drop Further?

I hear this concern constantly: "But Cassandra, what if I buy now and rates drop to 5% next year? Won't I kick myself?"

Here's the reality check you need. First, while rates might dip slightly, most experts agree that the era of 3% mortgages is over. Those ultra-low rates were an anomaly driven by pandemic-era economic policies, not the norm we should expect moving forward.

Second, remember that you can always refinance. If rates do drop significantly in the future, you're not locked into your current rate forever. Many homeowners who bought in 2021 and 2022 at higher rates successfully refinanced when opportunities arose.

Third, and this is crucial for our market specifically: Vancouver home values continue to trend upward. Economists predict home prices will continue rising in 2025 and 2026, even if at a more moderate pace. If you wait for a 0.5% rate drop but home prices increase by 3-4% in that time, you'll actually end up paying more overall—and you'll have missed months or years of building equity.

The Real Question: What Makes Sense for YOU?

Smart home buying starts with understanding your financial readiness and long-term goals

Forget about timing the market perfectly. That's nearly impossible, and you'll drive yourself crazy trying. Instead, ask yourself these questions:

• Can you afford the monthly payment? Look beyond just the mortgage—consider property taxes, insurance, maintenance, and potential HOA fees.
• Do you have stable income and savings? You'll need a solid emergency fund (typically 3-6 months of expenses) even after your down payment.
• Are you planning to stay put? Real estate is typically a long-term investment. If you're planning to stay in Clark County for at least 5-7 years, short-term rate fluctuations matter much less.
• What's the alternative? If you're currently renting, that's money that's not building equity. Rent increases can also erode your savings for a down payment.

Red Flags That Suggest You Should Wait

Not everyone should buy right now, and that's okay. Consider waiting if:

• Your job situation is uncertain or you're considering a career change
• You don't have at least 20% saved beyond your down payment for emergencies
• You're unsure about your long-term plans or might relocate soon
• You're stretching your budget uncomfortably to make payments
• You haven't been pre-approved or don't fully understand what you can afford

What 2026 Looks Like for Our Market

Based on current trends and expert forecasts, here's what I'm expecting for Vancouver and Clark County in 2026:

• Continued modest home price appreciation (2-4%)
• Stable inventory levels with more choices for buyers than in recent years
• Mortgage rates holding steady in the low-to-mid 6% range
• Increased activity from out-of-state buyers discovering our market
• Strong demand in family-friendly areas like Camas, Battle Ground, and Salmon Creek

The Bottom Line: Waiting for Lower Rates Can Cost You More

After years of helping buyers navigate the Vancouver and Clark County market, I can tell you that the people who are happiest with their home purchases are those who bought when it made sense for their life circumstances — not because they thought they could perfectly time the market.

Here’s the key insight many buyers overlook: if interest rates drop, affordability increases, more buyers will enter the market, competition heats up, and home prices often rise. In Clark County — where inventory is already tighter than many parts of the country and long-term demand remains strong — waiting for a “better rate” could actually mean paying more for the same home than if you acted today.

Right now, the 2026 market offers something we haven’t seen in years: balance. You have more choices, more time to evaluate, and more negotiating power. Mortgage rates are relatively stable and predictable, prices are steady, and refinancing remains an option if rates do dip in the future. For many buyers, purchasing now — at today’s prices and with today’s leverage — puts them in a stronger long-term position than waiting for a theoretical rate drop that may ultimately cost more.

The real question isn’t, “Will rates go lower?” It’s, “Can I buy a home I can afford today, lock in the price, and adjust the rate later if the opportunity comes?” For buyers ready to take the step, the answer in 2026 is often yes — by acting now, you may save both money and time while building equity sooner.