Mortgage Rates in Raleigh, North Carolina: 2026 Guide
30-year fixed: 7.32%. Median: $370,000.
Current Mortgage Rates in Raleigh
| Loan Type | Rate | APR | Monthly* |
|---|---|---|---|
| 30-Year Fixed | 7.32% | 7.400% | $2,033/mo |
| 15-Year Fixed | 6.68% | 6.750% | $2,608/mo |
| 5/1 ARM | 6.46% | 6.810% | $1,863/mo |
Raleigh Market Insights
Raleigh is part of the Research Triangle and offers a strong tech and biotech job market. The housing market has seen steady appreciation driven by population growth and high-paying jobs. Popular areas include North Hills, Cameron Village, and Five Points.
FAQs
What is the average mortgage rate in Raleigh?+
How much down payment is needed in Raleigh?+
What are property taxes in Raleigh?+
What a $370,000 Home Costs in Raleigh
At Raleigh's median home price of $370,000, a 20% down payment is $74,000. On a 30-year fixed loan at 7.32%, the monthly principal and interest payment works out to $2,033, and property taxes add roughly $188 per month at an effective rate of 0.61%. That puts the total PITI payment near $2,221 a month before homeowners insurance and HOA fees.
Keeping housing at or below 28% of gross income means a buyer in Raleigh typically needs to earn about $95,186 a year to carry this payment comfortably.
Tax & Rate Context in Raleigh
The effective property tax rate in Raleigh is 0.61%, which works out to roughly $2,257 a year on a median-priced home.The 30-year fixed rate used here is the national Freddie Mac PMMS average of 7.32%. Local quotes move with credit score, down payment and lender, so compare at least three offers. Raleigh has an estimated population of 470K, and demand in the local market affects how quickly homes move and how often sellers negotiate on price.