Virginia, October 16, 2025
Virginia has reported a mortgage delinquency rate that remains below the national average, highlighting the state’s economic stability and a robust housing market. Despite the rising interest rates and inflationary pressures, homeowners in Virginia are managing their mortgage payments effectively. This trend indicates a healthy economy and a resilient housing sector that continues to thrive in challenging conditions, offering a sense of security to residents amid broader economic uncertainties.
Richmond, Virginia – Mortgage Delinquency Rates Remain Below National Average, Reflecting Economic Stability
Lead: Virginia’s mortgage delinquency rate stood at 2.4% as of June 2023, aligning with the national average, indicating overall stability in the state’s housing market. The rate is lower than neighboring states such as West Virginia at 2.9% and Maryland at 3.4%.
Impact of Rising Interest Rates and Inflation: Despite nationwide pressure from higher interest rates and inflation, Virginia’s housing market has shown resilience. Higher mortgage rates in many markets have contributed to larger delinquency figures elsewhere, while Virginia’s delinquency rate has remained relatively stable, underscoring the state’s relative strength.
Factors Contributing to Virginia’s Housing Market Resilience
- Economic Fundamentals: Virginia benefits from strong income levels, steady population growth, and a robust employment base in technology and professional services.
- Housing Supply Constraints: A shortage of housing inventory has kept demand high and prices stable.
- Government Policies: State and local policies support homeownership and provide assistance to borrowers, helping maintain lower delinquency rates.
Conclusion
Virginia’s mortgage delinquency rate remains below the national average, reflecting the state’s economic stability and the resilience of its housing market amid rising interest rates and inflationary pressures. This trend underscores the effectiveness of Virginia’s economic policies and the strength of its housing sector.
Frequently Asked Questions
What is the current mortgage delinquency rate in Virginia?
As of June 2023, Virginia’s mortgage delinquency rate stood at 2.4%, aligning with the national average.
How does Virginia’s mortgage delinquency rate compare to neighboring states?
Virginia’s delinquency rate of 2.4% is lower than that of neighboring states such as West Virginia (2.9%) and Maryland (3.4%).
What factors contribute to Virginia’s housing market resilience?
Virginia’s housing market resilience is attributed to strong economic fundamentals, housing supply constraints, and supportive government policies.
How do rising interest rates and inflation affect mortgage delinquency rates?
Rising interest rates and inflation can increase mortgage payments, potentially leading to higher delinquency rates. However, Virginia’s delinquency rate has remained relatively stable, indicating resilience in the state’s housing market.
What role do government policies play in maintaining low mortgage delinquency rates in Virginia?
State and local policies in Virginia have supported homeownership and provided assistance to borrowers, helping to maintain lower delinquency rates.
| Key feature | Details |
|---|---|
| Virginia mortgage delinquency rate (June 2023) | 2.4%, aligning with the national average |
| Comparison to neighboring states | West Virginia 2.9%; Maryland 3.4% |
| Resilience factors | Strong economic fundamentals; housing supply constraints; supportive government policies |
| Trend amid rising rates | Rate remained relatively stable despite inflation and higher rates |
| Policy role | State and local policies support homeownership and borrower assistance |
Deeper Dive: News & Info About This Topic
HERE Resources
Local community banks launch donation drives and report lending totals amid separate fraud probe
Manufactured housing expands amid lender support and investor risks
Author: VIRGINIA STAFF WRITER
The VIRGINIA STAFF WRITER represents the experienced team at constructionvanews.com, your go-to source for actionable local news and information in Virginia and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Virginia Build Expo, major infrastructure projects, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated Builders and Contractors of Virginia and the Home Builders Association of Virginia, plus leading businesses in construction and legal services that power the local economy such as CMiC Global and Williams Mullen. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructiontxnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
