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Raleigh

Current Mortgage Rates in Raleigh, North Carolina

Compare mortgage rates and fees for leading lenders in Raleigh, NC. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Raleigh.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Raleigh. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Raleigh, NC as of September 24, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Raleigh, NC Mortgage Rates Compare?

September 24, 2020

The current average rate for a 30 year fixed rate mortgage in Raleigh is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Raleigh, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Raleigh, North Carolina?

Below we provide helpful information on the real estate market, home prices and housing affordability in Raleigh. Understand how much you need to earn to afford a home in Raleigh, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Raleigh fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Raleigh is right for you.

The median home value for Raleigh, NC (Wake County) is $319,513

Based on current mortgage rates and a 10% down payment, you need to make $57,504 per year to buy the median priced home in Raleigh

With this income, you could qualify for a $287,562 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Raleigh is $1,332

The median household income for Raleigh, NC (Wake County) is $77,597

Based on this income, you can afford a home valued at approximately $431,158

The home price you can afford to buy based on household income in Raleigh is 135% of the median home value which means housing prices are average. Raleigh (Wake County) ranks 81 out of 100 counties in North Carolina and 2,729 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Raleigh, NC is average

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Loan Limits for Raleigh, North Carolina

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Raleigh (Wake County) below.

Conforming loan limits for Raleigh, NC

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Raleigh, NC

1 unit: $353,050
2 units: $451,950
3 units: $546,300
4 units: $678,950

VA loan limits for Raleigh, NC

1 unit: $510,400

Additional Mortgage Resources for Raleigh, NC Residents

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