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Baltimore city

Current Mortgage Rates in Baltimore city, Maryland

Compare mortgage rates and fees for leading lenders in Baltimore city, MD. 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 lender offering the best mortgage rates in Baltimore city.

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

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Mortgage Rates in Baltimore city, MD as of November 11, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Baltimore city, MD Mortgage Rates Compare?

November 11, 2019

The current average rate for a 30 year fixed rate mortgage in Baltimore city is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Baltimore city, MD Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Baltimore city, Maryland?

The median home value for Baltimore city, MD is $163,355

The median household income for Baltimore city, MD is $48,067

Based on current mortgage rates and a 10% down payment, you need to make $30,308 per year to buy the median priced home in Baltimore city

The home price you can afford to buy based on household income in Baltimore city is 159% of the median home value which means housing prices are average

Baltimore city ranks 3 out of 24 counties in Maryland and 2,404 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Baltimore city, MD is average

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Loan Limits for Baltimore city, Maryland

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Baltimore city below.

Conforming loan limits for Baltimore city, MD

1 unit: $517,500
2 units: $662,500
3 units: $800,800
4 units: $995,200

FHA loan limits for Baltimore city, MD

1 unit: $517,500
2 units: $662,500
3 units: $800,800
4 units: $995,200

VA loan limits for Baltimore city, MD

1 unit: $517,500

Additional Mortgage Resources for Baltimore city, MD Residents

Mortgage Rates for Maryland Cities

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Westminister Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index