Mortgage Rates in Exeter, Rhode Island — March 2026
Updated March 2026 | Based on Exeter market data and regional lending conditions
Exeter is a growing city in Rhode Island with a population of 6,425. The current 30-year fixed mortgage rate in Exeter is 6.74%, which is 0.09% above the national average. With a median home price of $353,000 and a 20% down payment of $70,600, homebuyers can expect a monthly principal and interest payment of approximately $1,830.
Current Mortgage Rates in Exeter, RI
Below are the current average mortgage rates available in the Exeter area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.74% | 6.65% | +0.09% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.99% | 6.85% | +0.14% |
Exeter Housing Market Overview
The Exeter housing market reflects moderate demand with prices near the national average. The median household income in Exeter is $60,100, and the cost of living index is 100.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $98,486 to comfortably afford the median-priced home in Exeter, which exceeds the current median household income.
Monthly Payment Breakdown for Exeter
Based on the median home price of $353,000 with 20% down ($70,600), here is what you can expect to pay monthly in Exeter:
15-Year vs. 30-Year Mortgage in Exeter
Choosing a 15-year mortgage in Exeter at 5.98% instead of a 30-year at 6.74% would save you $230,400 in total interest over the life of the loan. However, your monthly payment would be $2,380 instead of $1,830 — an increase of $550 per month.
Calculate Your Exeter Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Exeter
What are the current mortgage rates in Exeter, RI?
As of March 2026, the average 30-year fixed mortgage rate in Exeter, Rhode Island is 6.74%, while the 15-year fixed rate is 5.98%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.09% above the national average of 6.65%.
How much is a monthly mortgage payment in Exeter?
Based on the median home price of $353,000 with 20% down, the estimated monthly mortgage payment in Exeter is $1,830 for principal and interest. Including property taxes of $468/month, the total monthly housing cost is approximately $2,298.
What income do I need to buy a home in Exeter?
Using the 28% rule, you would need an annual income of approximately $98,486 to afford the median-priced home in Exeter at $353,000. The median household income in Exeter is $60,100. This means most households would need to either earn above the median or consider homes below $353,000.
Is Exeter a good place to buy a home in 2026?
Exeter has a moderate cost of living with a cost of living index of 100.4 (national average = 100). The property tax rate in Rhode Island is 1.59%, which is above the national average. Exeter has a population of 6,425 and offers a balanced lifestyle.
Mortgage Rates in Other Rhode Island Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Exeter, Rhode Island area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.