If you bought or refinanced a home in Southwest Washington between 2020 and 2022, you likely secured a mortgage rate in the 2.5% to 3.5% range. At the time, it felt like winning the real estate lottery.
But fast forward to 2026, and that winning ticket might feel a bit more like “golden handcuffs.”
Perhaps your family has grown and you desperately need a fourth bedroom. Maybe you’re ready to downsize and enjoy a lower-maintenance lifestyle, or you’re eager to get into a specific school district in Felida, Camas, or Ridgefield. Yet, every time you look at today’s interest rates, you talk yourself out of moving.
At Cano Real Estate, we hear this exact sentiment from Clark County homeowners every single week. The fear of letting go of a pandemic-era interest rate has created a “lock-in effect.” But keeping a low rate isn’t always the best financial or personal decision if the house no longer serves your life.
Here is why 2026 is proving to be the year Southwest Washington homeowners are finally breaking the golden handcuffs to step into their dream homes.
The Reality of Today’s Market
First, let’s look at the numbers objectively. As of late May 2026, the 30-year fixed-rate mortgage average is hovering right around 6.53%, according to the Freddie Mac Primary Mortgage Market Survey.
While it is entirely normal to experience sticker shock when comparing 6.5% to 3%, it is crucial to remember that a 3% rate was a historical anomaly. Today’s rates represent a stabilized, normalized market. Waiting on the sidelines for rates to drop back into the 3s or 4s could mean putting your life on hold for a market condition that forecasters do not expect to return anytime soon.
Why Moving Now Actually Makes Financial Sense
It is easy to get tunnel vision on the interest rate, but that is only one part of the real estate math equation. Here is what homeowners are capitalizing on right now:
- You Have Massive Equity: If you have owned your home since 2020, you have likely built incredible equity. Home values in Clark County have appreciated significantly over the last five years. When you sell, you can roll that massive equity check into your new home, resulting in a much larger down payment. This offsets the impact of a higher interest rate and keeps your new monthly payment manageable.
- You Have Negotiating Power Again: During the pandemic, buyers had a 3% rate, but they also had to waive inspections, bid $50,000 over the asking price, and cover appraisal gaps just to get a house. Today’s market is far more balanced. You have the time to negotiate terms, ask for seller concessions, and actually sleep on your decision.
- Options and Inventory Are Expanding: New construction is booming in areas like Ridgefield, Washougal, and North/East Vancouver, and resale inventory is steadily improving. You don’t have to settle for a house you don’t love just because it’s the only one on the market.
Buy for Today’s Reality, Not Tomorrow’s Promises
You have likely heard the real estate cliché to “marry the house, date the rate,” which suggests you should buy now and simply refinance later. At Cano Real Estate, we believe in a more grounded approach.
There are no guarantees about future interest rates. We advise our clients to only purchase a home if they are completely comfortable with the monthly payment at today’s rates.
However, buying now does lock in your purchase price and protects you from future home appreciation. If you wait to buy until interest rates eventually drop, a flood of sidelined buyers will rush back into the market. That increased competition historically drives home prices up, which can wipe out any savings you would have gained from a lower rate. By buying what you can comfortably afford now, you secure the home and the price. If rates drop in the future, refinancing is a fantastic bonus—but it shouldn’t be a requirement for you to sleep well at night.
Is It Time to Make a Move?
Ultimately, your home is more than a financial spreadsheet—it is where your life happens. If holding onto a 3% mortgage rate means staying in a home that no longer fits your family, your lifestyle, or your future goals, it is time to look at the bigger picture.
Don’t let a math equation hold your lifestyle hostage. The Cano Real Estate team has been guiding Southwest Washington buyers and sellers through every market cycle, and we know exactly how to structure a sale and purchase to protect your wealth.
Ready to see the real numbers? Contact Cano Real Estate today. We can provide you with a complimentary home valuation and work alongside our trusted local lending partners to show you exactly what your purchasing power looks like in today’s market. Let’s find your dream home.