Today's Mortgage Rates

Product (Rate Program)RateAPR


As the slogan goes, North Carolina is "a better place to be." Whether you've been a longtime resident, or are just relocating, you can add a positive experience to your North Carolina memories by getting a great rate on your mortgage. Finding that low rate mortgage or refinance isn't necessarily straightforward. That's why has compiled the tools you'll need to find mortgages and make responsible mortgage decisions. These tools include a terms glossary, a directory of North Carolina lenders, and dozens of mortgage calculators. Here are some essential tips to move your search in the right direction:

  • Pay attention to how payments will be applied to the debt balance on all prospective mortgages. If you don't receive an amortization schedule, ask for one, or run your own with a mortgage calculator.
  • Some mortgages offer you a lower rate, but you just end up paying more in closing costs. Use the APR to compare mortgages that have different closing costs.
  • If a mortgage has a very low payment, make sure that you understand why. It may or may not be because the interest rate is low.


ARMs are available in many variations, but they all share some common characteristics:

  • The loan opens with a low fixed rate, which lasts for one to 10 years.
  • After the initial rate expires, a variable rate takes effect; this rate is usually adjusted annually, and fluctuates with economic trends.
  • ARMs are used by borrowers who need a low payment now and are willing to absorb payment increases later.

Home Equity Loans

Existing homeowners can convert their home equity into cash with a home equity loan or a refinance. Home equity loans have a fixed interest rate, while refinance rates can be fixed or adjustable. Generally, the fixed rates for refinances will be lower than the rates on home equity loans. Home equity debt remains separate from the first mortgage, while a refinance creates one larger loan.

Comparing Mortgage Rates

You can find qualified brokers with a quick browse through our North Carolina broker directory. Be diligent about collecting several written offers, as that's the best strategy to find the lowest rate. Here are some suggestions to help you prepare for your lender consultations:

  • Know your budget. Use mortgage calculators to test different loans and rates.
  • Know your future plans. Consider what factors could prompt you to sell the home in the next few years, and what factors might affect your income.
  • Know the market. Refinance rates are lower than second mortgage rates, and ARM rates usually start out lower than fixed-rate mortgages (FRM) rates. Knowing how the different loan types compare makes your mortgage shopping experience much easier.

As your loan offers start rolling in, take care to evaluate them on all terms, including payment amount, amortization schedule, and total interest costs. From there, you're definitely ready to select your best option.