With Cary averaging a typical metro credit score and a typical DTI, most buyers qualify for Wells Fargo's conventional tier. FHA at a modest share of originations signals rate sensitivity — Wells Fargo's conventional vs. FHA breakeven on the median loan determines the optimal product here.
Cary, North Carolina: 2026 Market Data
📊 LOCAL MARKET DATA
- Median home price: the area's median
- Year-over-year price change: modest
- FHA loan share: modest
- Conventional loan share: majority
- Property tax rate (Wake County): set locally
- Top local lenders: Wells Fargo, BB&T/Truist, Bank of America
Data from U.S. Census Bureau, HMDA, county assessor
Mortgage Rate Trends in Cary: 2026
Cary's housing market has stayed competitive heading into 2026, and the numbers tell the story. The median home price here is elevated, which reflects a modest rise from a year earlier. That kind of year-over-year appreciation matters when you're budgeting, because a rising price tag affects your down payment, your loan size, and how much you'll ultimately pay over the life of the mortgage. When it comes to how Cary buyers are financing those homes, conventional loans dominate the market, while FHA loans account for a modest share. If you're weighing your options, it's worth understanding which path fits your credit profile and savings, since conventional and FHA loans carry different requirements and costs. Don't overlook property taxes in your math, either. Wake County's rate of the local rate applies to your home's assessed value and becomes part of your monthly payment if it's escrowed. Because rates and terms vary, gather quotes from several lenders before committing, and read every disclosure carefully. Comparing offers side by side is the most reliable way to see what you actually qualify for and to find terms that work for your situation here in Cary.
Cary Mortgage Math: the median loan Loan at Current Rates
Let's run actual numbers on a typical Cary purchase. Take the median loan amount, which lines up with a moderate down payment on the area's mid-range homes. At current market rates, your principal and interest payment lands in line with current rates on a 30-year fixed. Add Wake County property taxes at roughly the local rate—a moderate amount monthly before any exemption—plus homeowners insurance and you're looking at a typical PITI. If your down payment falls below 20%, factor in PMI, which can add to your payment depending on your credit profile. The practical takeaway: every quarter-point shift in your rate moves your monthly payment modestly on this loan size. Over thirty years, that's tens of thousands of dollars. Cary buyers who lock during a dip, or who structure a buydown thoughtfully, protect their budgets in a market where home prices keep climbing faster than wages.