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Maryland

Current Maryland Mortgage Rates

Compare Maryland mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Maryland.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Maryland. Plus, shopping lenders is free and there is no obligation.

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Maryland Mortgage Rates as of June 19, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Maryland Mortgage Rates

June 19, 2024

Current mortgage rates in Maryland are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Maryland Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
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6.250%

How Affordable is Housing in Maryland?

Below we offer valuable insights on the housing market and real estate prices in Maryland. Understand how much you need to make to buy a house in Maryland, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Maryland is affordable for you. We provide this helpful information to help you decide if living in Maryland is right for you.

The median home value for Maryland is $413,963

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Maryland is $86,359

With this income, you could qualify for a $372,567 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Maryland is $2,000

The median household income for Maryland is $94,654

Based on this income, you can afford a home valued at approximately $453,725

The home price you can afford to buy based on household income in Maryland is 110% of the median home value which means housing prices are average. Maryland ranks 30 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Maryland is average

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Additional Mortgage Resources for Maryland Residents

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