Updated: December 13, 2024
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Today's 30-year fixed mortgage rate in North Carolina is 6.43%, lower than the national average of 6.83%. To reduce mortgage costs, homebuyers can explore programs like the NC Home Advantage Mortgage and the NC 1st Home Advantage Down Payment.
MoneyGeek used publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for North Carolina. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources. Unless specifically noted otherwise, rates featured in the content are annual percentage rates (APRs).
This data was last updated in December 2024.
In December 2024, the average APR for a 30-year fixed-rate mortgage in North Carolina is 6.43%, down from 6.70% the previous month. For a $250,000 loan with a 20% down payment, this rate decrease could save you about $2,391 in interest over the life of your loan, excluding property taxes or HOA fees.
Rates shift frequently due to changing economic conditions and Federal Reserve policies. The line chart below shows the recent month-to-month changes in mortgage rates.
Even small changes in mortgage rates can significantly impact your finances. Understanding the current mortgage rates in North Carolina helps you budget for a future home purchase.
Understanding today's mortgage interest rates in North Carolina is advantageous for first-time homebuyers and seasoned investors navigating the housing market:
First-time homebuyers in North Carolina can use current mortgage rates to compare offers and spot competitive rates.
If current rates are lower than what they pay, North Carolina homeowners can consider a mortgage refinance.
In North Carolina, mortgage rates for new home purchases and refinancing differ slightly. The average APR for a 30-year fixed mortgage is 6.43% for new home purchases and 6.56% for refinancing.
A 30-year fixed-rate mortgage usually has a higher rate than a 15-year loan due to the extended time frame, which increases the risk for lenders.
Selecting the right mortgage types in North Carolina can influence your rate. Use a mortgage calculator to estimate monthly payments and better understand how your rate impacts them, helping you plan your budget.
| 5.90% | 6.08% |
An interest rate reflects the yearly cost of borrowing money on a mortgage. North Carolina's average interest rate for a 30-year fixed-rate mortgage is 6.35%.
An APR (annual percentage rate) captures the interest rate, lender fees and mortgage points included in your loan. North Carolina's average APR for a 30-year fixed-rate mortgage is 6.43%, giving you a more comprehensive view of yearly loan costs.
With a credit score of 740 or higher and a 5% to 20% down payment, the average APR for a 30-year fixed mortgage in North Carolina is 7.04%. A credit score under 680 bumps the average APR to 7.07%.
Your credit score affects the mortgage rates you may qualify for. Check the table below for the possible rates based on your credit score and down payment amount:
| 10-year Fixed | 6.06% |
| 15-year Fixed | 6.29% |
| 20-year Fixed | 6.65% |
| 30-year Fixed | 7.04% |
| 5-year ARM | 7.97% |
| 7-year ARM | 8.10% |
In December 2024, VA loans have the lowest average APR for 30-year fixed-rate mortgages in North Carolina at 6.27%. Knowing your options can help you make a smart choice for your needs. The table below summarizes the mortgage types in North Carolina.
Mortgage Type | Definition | Impact on Rates | 30-Year Rates in North Carolina |
|---|---|---|---|
Conventional loans | Conventional loans aren't insured by government agencies. | Rates depend on credit score and down payment. | 6.43% |
FHA loans | FHA loans are backed by the Federal Housing Administration. | FHA loans typically have lower requirements but may come with higher rates. | 8.02% |
VA loans | VA loans are guaranteed by the Department of Veterans Affairs. | Rates are often competitive due to government backing. | 6.27% |
USDA loans | USDA loans are supported by the U.S. Department of Agriculture for rural homebuyers. | Rates are low for qualified rural and suburban homebuyers. | currently unavailable |
Jumbo loans | Jumbo loans exceed conforming loan limits set by Fannie Mae and Freddie Mac. | Rates may be higher rates due to the larger loan amounts. | 6.48% |
Mortgage rates are either fixed or adjustable.
As of December 2024, the average APR in North Carolina for a 30-year fixed-rate loan is 6.43%, and for a seven-year adjustable-rate mortgage, it's 7.30%.
LoanDepot, Rocket Mortgage and Lower are solid options for securing a mortgage in North Carolina because of their state availability, Better Business Bureau (BBB) accreditation and homeowner assistance programs. Another lender could be a fit for your situation.
Mortgage rates in North Carolina can vary widely among lenders, each setting its own rates and loan terms. You can find the most favorable deal by comparing offers from various lenders.
LoanDepot offers online and in-person services and various mortgage options, including fixed-rate and adjustable-rate loans. The minimum credit score for an FHA loan is 580. Conventional loans require a 5% down payment, while FHA loans start at 3.5% (or 10% for credit scores under 580). VA and USDA loans offer no down payment options.
Phone and email support is available Monday through Friday, 10 a.m. to 9 p.m. ET. LoanDepot also supports affordable housing with programs like Loss Mitigation Assistance.
Pros
Cons
Rocket Mortgage offers various loans, including FHA and conventional options. FHA loans require a minimum credit score of 580, while conventional loans need a score of 620. Down payments start at 3.5% for FHA loans and 3% for conventional loans, making homeownership more accessible for first-time buyers.
Customer service is available via phone or chat Monday through Friday, 8:30 a.m. to 9:00 p.m. ET, and Saturday from 9:00 a.m. to 4:00 p.m. ET. The lender also offers programs like HomeReady, HomePossible and ONE+ to assist with down payments and support buyers in achieving homeownership.
Pros
Cons
Lower offers mortgage products exclusively online, including conventional and FHA loans, both requiring a minimum credit score of 580. Down payment details aren't disclosed upfront, so borrowers must inquire directly.
Customer service is available via phone and text Monday through Friday, 9 a.m. to 5 p.m. ET. Lower also supports homeowners with its Buy Before You Sell program and is a top HELOC lender in many states.
Pros
Cons
Owning a home goes beyond monthly payments — be ready for the hidden costs of homeownership that can impact your budget. You can find support through the North Carolina Housing Finance Agency, which provides mortgage programs to assist you.
Program | Description |
|---|---|
Aids first-time and move-up buyers with a fixed-rate mortgage and up to 3% down payment assistance. Qualifying veterans or first-timers can receive an additional $15,000, with repayment forgiven after 15 years. The tax credit may provide up to $2,000 in annual savings. Requirements include a 640 credit score, income under $134,000 and occupancy within 60 days. | |
Helps first-time buyers and veterans with up to $15,000 for a down payment. The loan is interest-free and forgiven after 15 years. You need a 640 credit score to qualify and occupy the home within 60 days. The program supports various home types. | |
Provides a Mortgage Credit Certificate to first-time buyers and veterans, saving up to $2,000 annually on federal taxes. To qualify, you must secure it with your mortgage, move in within 60 days and have your loan approved. It can increase your take-home pay, making mortgage payments more manageable. |
Understanding today's mortgage rates can help you make informed homebuying decisions. We address common questions about securing a mortgage in North Carolina.
Current average APRs in North Carolina vary by loan type. As of December 2024, the average APRs are 6.43% for a 30-year fixed and 7.30% for a seven-year ARM.
As of December 2024, North Carolina’s average APRs are competitive with national rates. The average APR for a five-year ARM is 7.30%, below the national average of 7.79%. The average APR for a 15-year fixed-rate mortgage is 5.88%, lower than 6.12% nationally.
Your credit score significantly influences the rates you receive. A higher credit score can help secure lower mortgage rates, as it indicates to lenders that you're a lower-risk borrower.
North Carolina offers mortgage programs to assist homebuyers, such as the NC Home Advantage Mortgage, the NC 1st Home Advantage Down Payment program and the NC Home Advantage Tax Credit.
To get the best possible mortgage rate in North Carolina, consider making a larger down payment, improving your credit score, and comparing offers from multiple lenders.
Today's refinance rates in North Carolina as of December 2024 are 6.56% for a 30-year fixed and 6.05% for a 15-year fixed loan.
Use a mortgage calculator for North Carolina, which will help you estimate your monthly payments considering the loan amount, interest rate and loan term.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.
