Where rates stand.
Freddie Mac’s weekly survey, translated into what it means for a Wilmington-priced home — for buyers and for sellers. Refreshed monthly.
The trend
Six weeks up. Then a pause.
The 30-year rose six weeks running, from 6.66% in late August to 7.40%, then held there this week. That is 74 basis points in eight weeks and the highest reading since November 2023.
For buyers
The payment math on a $500,000 home.
With 20% down, a $400,000 loan. Principal and interest only.
Two practical points. A pause is not a turn: the 30-year has added 74 basis points in eight weeks and this week simply did not add more, so treat a flat week as a chance to lock rather than evidence that waiting pays. And if you are buying new construction, ask about extended-lock options before you need them — a 60-day lock on a build that delivers in 90 is an expensive problem, and a more expensive one in a rising market than it was in the spring.
The builder alternative
Rates the market is not offering.
Two of the three builders we feature are buying rates down this month. On a $400,000 loan, the gap between this week’s 7.40% and Mungo’s 3.49% first-year rate is about $976 a month; against the 5.49% the loan settles into from year three it is about $501.
2/1 buydown: 3.49% in year one, 4.49% in year two, 5.49% for years three through thirty (6.237% APR), through Silverton Mortgage on eligible homes — or up to $20,000 in savings instead of the buydown.
Rate as low as 5.75% or up to $5,000 toward buyer fees on the first-time buyer package, plus washer, dryer, refrigerator and blinds; or $20,000 use-as-you-choose on select homes, which can go toward a buydown. Requires the builder’s lender.
Builder incentives are tied to the builder’s lender and change monthly; we get you a competing quote so you can see what the incentive actually costs. HHHunt’s current published offer is a $1,500 Hometown Heroes credit rather than a rate buydown, so it is not shown here. Terms as of October 17, 2026.
For sellers
A smaller buyer pool, doing harder math.
Higher rates shrink the buyer pool at every price point, and the buyers still shopping are running the payment on every listing before they tour it. At 7.40%, principal and interest on a $400,000 loan is about $2,770 a month, roughly $301 more than the same loan a year ago.
That shows up in the calendar. The median home takes 61 days to sell in New Hanover, 83 in Pender and 93 in Brunswick — about four to five weeks longer than a year ago in all three. Prices have held up better than the pace: Brunswick is up 3.7% year over year and Pender’s median is up sharply on a small number of sales, while New Hanover is down 1.3%. The sellers doing best treat the first two weeks as their shot at full price rather than a starting point to negotiate down from.
Source: Freddie Mac Primary Mortgage Market Survey, week ending October 15, 2026; weekly history via FRED. Payment figures are principal and interest only on a 30-year fixed loan, exclude taxes, insurance and HOA, and are illustrative. Not a loan offer. Tidal Realty Partners is not a lender.
Trying to time a purchase around rates?
We will walk you through the actual numbers on the actual house, including what a builder buydown is really worth.