Current North Carolina Mortgage and Refinance Rates

Mortgage interest rates currently average 6.11% for 30-year fixed loans and 5.23% for 15-year fixed loans.

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Refinance rates in North Carolina

30-year FIXED

Current refinance rates are averaging:

6.52%

15-year FIXED

Current refinance rates are averaging:

6.06%

  • Rate-and-term refinances replace your current first mortgage with a new one that has a better interest rate or a different loan term — or even both. A longer loan term reduces your monthly mortgage payments. In North Carolina today, refinance rates are higher than purchase mortgage rates.
  • Cash-out refinances swap out your current home loan for a new one and, at the same time, you can also borrow a lump sum of cash secured by your home equity. When using a cash-out refinance, you should expect to see higher rates than you’d pay with a regular refinance.
  • Conventional refinances aren’t backed by a government loan program and almost always have higher rates than government-backed refinances.
  • FHA refinances, which are insured by the Federal Housing Administration (FHA), have less rigid requirements than conventional loans — especially when it comes to credit scores. FHA mortgage rates in North Carolina are lower than conventional refinance rates, with current FHA refinances coming in on average 0.83 percentage points below conventional refinances.
  • VA refinances are insured by the U.S. Department of Veterans Affairs (VA). As long as you’re a qualified military borrower, you can access low rates and enjoy very flexible requirements. In North Carolina today, VA refinance rates may be more than a full percentage point lower than conventional refinance rates.

See whether refinancing makes sense for you using our mortgage refinance calculator.

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What is the current mortgage rates forecast?

The current mortgage rates forecast states that interest rates aren’t expected to fall significantly in early 2026. LendingTree market experts predict that 30-year rates will remain around 6.0% in January after three rate cuts by the Federal Reserve in late 2025.

We’re still in an affordability crisis and that’s unlikely to change any time soon. Demand continues to outstrip supply, and building enough new homes to change that is an expensive and challenging. However, if rates fall a bit, we could see more existing homes come on the market — which could ease some of the burden.

How do I get the best mortgage rate for my North Carolina home loan?

There are many factors determining mortgage rates, and not all of them are in your control. Focus on what you can change with these tips for how to get the best mortgage rate:

  • Boost your credit
    Your credit score plays a huge role in the terms lenders will offer you. The higher your score, the more likely you’ll see low-rate offers.
  • Lower your debt-to-income (DTI) ratio
    If you can increase your income, pay off some debts or get a cosigner, your DTI ratio will drop. A lower DTI ratio means lower rates, since you’ll look like a less risky borrower to lenders.
  • Buy a single-family, site-built home
    Lenders view some housing types as a riskier investment, so avoid buying a manufactured home, a property with more than one unit, a vacation home or an investment property if you want the lowest rates available.
  • Pay for mortgage points
    Mortgage points allow you to pay a lump sum upfront in exchange for a reduced interest rate — usually by 0.25 percentage points per mortgage point. If you plan to stay in your home for long enough to break even, points can save you money in the long run.
  • Compare offers from multiple lenders
    Gather several offers from lenders so that you can compare the interest rates and loan terms they offer you. Doing so can save you thousands of dollars over the life of your loan, according to LendingTree data.

Read more about our picks for the best mortgage lenders.

When should I lock in my mortgage rate?

Once you’ve chosen a loan offer, you should reach out to the lender to request a mortgage rate lock. That way, your interest rate won’t increase in the time it takes you to close on the house.

North Carolina home loan programs

NC Home Advantage Mortgage

This program combines a purchase mortgage with a second mortgage offering down payment assistance of up to 3% of the loan amount. The assistance will be forgiven after 15 years, so you won’t have to make any payments as long as you don’t sell or refinance the home before those 15 years are up. NC Home Advantage mortgages are conventional, FHA, VA or USDA loans.

Who qualifies

Borrowers must:

  • Purchase a home in North Carolina
  • Earn no more than $134,000 per year
  • Have a minimum 640 credit score
  • Move into the home within 60 days

NC 1st Home Advantage Down Payment

First-time homebuyers and veterans can qualify for a special, more robust version of the NC Home Advantage Mortgage program described above. It’s a similar setup: a purchase loan combined with a second mortgage that offers down payment assistance. You’ll pay no interest on the assistance and the second mortgage will be forgiven after 15 years. However, first-time homebuyers and veterans can access even more money, up to a maximum of $15,000 in down payment funds.

Although the program is designed for first-time homebuyers, repeat buyers who are also civilians may be able to use the program if they purchase a home within special targeted areas.

Who qualifies

All borrowers must:

  • Purchase in North Carolina
  • Have family income within the program’s income limits
  • Have a minimum 640 credit score
  • Move in within 60 days of purchasing the home

First-time homebuyers must:

  • Not have owned a home within the last three years

Wake County Affordable Homeownership Program

This program helps first-time homebuyers purchase a home in Wake County (excluding the cities of Cary and Raleigh). Borrowers can access up to $50,000 in forgivable funds to put toward a home purchase.

Who qualifies

Borrowers must:

  • Be first-time homebuyers
  • Meet household income limits, which range from $63,500 for a one-person household to $90,650 for a four-person household
  • Have a minimum 640 credit score

Learn about different types of NC mortgage loans

  • North Carolina conventional loans
    Conventional loans are a very common choice, but you’ll need at least a 620 credit score to qualify.
  • North Carolina FHA loans
    FHA loan requirements allow borrowers to qualify with a credit score as low as 500 — however, you’ll have to make a 10% down payment. If you have at least a 580 credit score, though, you’ll only have to put down 3.5%.
  • North Carolina VA loans
    Designed with the unique needs of veterans in mind, VA loan requirements offer a lot of flexibility. If you have full VA entitlement, you can purchase or refinance without making a down payment.
  • North Carolina streamline refinances
    are either FHA streamline refinances or VA interest rate reduction refinance loans (IRRRLs). They’re only for borrowers who want to refinance from an FHA loan into an FHA loan, or from a VA loan into a VA loan.
Home Home Loan Mortgage Rates Current North Carolina Mortgage and Refinance Rates