Current Maryland Mortgage Rates
Average market rates for December 03, 2025 in Maryland are 6.25% for 30-year fixed purchase and 6.35% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.25% | 6.28% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
Mortgage Rate Trends in Maryland
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.25% | 6.28% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
Official data show that the average mortgage rate in Maryland in 2023 was 6.97%. And that also happens to be the national average that year, the most recent year available.
So, homebuyers in the Old Line State are neither advantaged nor disadvantaged as far as rates, compared to the U.S.
One of the main drivers of a state having higher or lower mortgage rates is residents’ credit scores. For individuals and groups, the higher the score, the lower the mortgage rate tends to be.
In March 2024, the average score in Maryland was 706, while the average nationwide was 705, according to credit bureau Equifax. So, it’s no great surprise that the state has average mortgage rates.
Other reasons a state might vary from the average mortgage rate is if it:
- Has unusually light or onerous mortgage-industry regulation that increases compliance costs.
- Has more or less competition between lenders than other states.
- Contains more or fewer residents who comparison shop for the best mortgage deal. A federal regulator reckons borrowers can save $100 or more each month by shopping around for the lowest rate. And that could certainly skew a state’s average.
Presumably, Maryland comes out close to average for these three factors, too.
Maryland Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.39% | 5.43% |
| 15-year Fixed Jumbo Purchase | 5.92% | 5.95% |
| 30-year Fixed Purchase | 6.25% | 6.28% |
| 30-year Fixed Jumbo Purchase | 6.73% | 6.74% |
Maryland Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.37% | 5.41% |
| 15-year Fixed Jumbo Refinance | 5.88% | 5.91% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
| 30-year Fixed Jumbo Refinance | 6.78% | 6.80% |
Maryland ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.04% | 6.08% |
| 5/6 Arm (refinance) | 6.06% | 6.09% |
| 5/6 Jumbo Arm (purchase) | 5.38% | 5.39% |
| 5/6 Jumbo Arm (refinance) | 5.38% | 5.39% |
How we source rates and rate trends
Maryland Real Estate Trends
The median listing price of homes in Maryland was $415,000 in November 2025, says Realtor.com, up slightly compared to a year earlier. The median list price of homes nationwide was $416,880.
So, Marylanders have two advantages when buying a home: mortgage rates and home prices that are close to average. That’s very attractive compared to many states.
Of course, as in all states, some areas of Maryland will have hotter home markets than others. Indeed, there may be cool spots where home prices have fallen.
Redfin names the following as the 10 hottest hot spots in the state:
Top 10 Metros in Maryland with the Fastest Growing Sales Price
- Parole, MD 32.4%
- North Bethesda, MD 28.2%
- Pikesville, MD 25.3%
- Towson, MD 24.6%
- Montgomery Village, MD 19.7%
- Eldersburg, MD 19.1%
- Leisure World, MD 18.9%
- Ballenger Creek, MD 18.2%
- Havre de Grace, MD 18.0%
- Rossmoor, MD 17.9%
Most Common Mortgage Types in Maryland
- Conventional: 53,961 loans
- FHA: 14,837 loans
- USDA: 1,030 loans
- VA: 8,896 loans
Those all have significantly higher rates of home price appreciation than the state-wide average of 7.2%.
Sales Environment
The Maryland residential market is fairly buoyant. The number of homes sold was up 12.1% from a year earlier, says Redfin.
Those are pretty good compared to many other states. Homeowners are seeing their homes appreciate at well above the inflation rate, and they are selling their homes quickly.
The median number of days to sell a home rose over that period to a still impressive 33.
All that is less good news for first-time buyers. An above-inflation increase in home prices means they need to save even more aggressively to buy the sort of place they want.
Still, there’s better news for them. The number of homes for sale in the state rose 14.8% in the 12 months ending in October 2024. And that means a better selection to choose from when they’re ready to enter the market.
Home equity
Equity is simply the amount by which your home’s market value today exceeds your current mortgage balance. It’s the portion of your home that you own outright.
You might be able to tap some of your equity with a cash-out refinance, a home equity loan or a home equity line of credit (HELOC). And the amount you have is critical to the sum you can borrow.
You might also be interested in your level of equity if you want to rid yourself of mortgage insurance premiums or are interested in identifying your net wealth.
There’s good news for Maryland homeowners. CoreLogic says that, over the year ending in the second quarter of 2024, Marylanders added on average $25,000 in home equity.
Unfortunately, not everyone in the state was so lucky. And the Line State’s share of negative equity (when your home is worth less than your mortgage balance) was 1.7%.
So, some Marylanders were having a bad time. However, that 1.7% share is common among states, and way better than others. It may be that, once again, Maryland is close to average. And there’s nothing wrong with that.
First-Time Home Buyer Programs in Maryland
There are many forms of help available in Maryland for first-time home buyers. Homebuyer education courses are accessible as well as counseling and individual mortgages to make purchasing a home more affordable.
The Maryland Mortgage Program (MMP), helps potential homeowners realize their goal of homeownership through various programs.
Its 1st Time Advantage loans offer eligible first-time buyers the lowest fixed interest rates available for MMP loans. Buyers might qualify for cash assistance to help cover the down payment and closing costs.
Many of its programs offer deferred second mortgages. With these, you pay 0% interest and make no monthly payments. When you refinance or transfer the loan, finish paying it down or sell the home, you must repay the sum you borrowed.
Here are some of the programs it offers:
- 1st Time Advantage Direct
- 1st Time Advantage 6000
- 1st Time Advantage 3% Loan
- 1st Time Advantage 5% Loan
- HomeStart
Other statewide programs include.
- Partner Match Programs (Deferred loan with a 0% interest rate)
- Smartbuy 2.0 (Second mortgage)
- MMP Flex 5000 (Second mortgage with a 0% interest rate)
And Live Baltimore offers those buying in the city up to $10,000. But you must be eligible and on a modest income. This takes the form of a silent loan that can be forgiven after five years, providing you remain in the home as owner for that time.
Your city or county may well offer its own down payment assistance program. So, search the web for more options.
Housing Prices in Maryland
With its distinctive small towns, beautiful landscapes, and energetic cities, Maryland can be a wonderful place to experience life.
But what type of home you buy affects your costs. According to Redfin, when broken down by type of property, the median sale price was around:
- $512,500 for a single-family home
- $356,000 for a townhouse
- $268,000 for a condo/co-op
The median sale price in some of Maryland’s larger cities were:
- Baltimore – $220,000
- Columbia – $485,000
- Germantown – $440,000
- Frederick – $478,000
Top Purchase Lenders in Maryland by Volume
- First Home Mortgage Corporation: 4,615 loans
- Rocket Mortgage, LLC: 3,151 loans
- Nvr Mortgage Finance, Inc.: 2,480 loans
- Nfm, Inc.: 2,100 loans
- Primary Residential Mortgage, Inc.: 2,072 loans
- Prosperity Home Mortgage, LLC: 1,813 loans
- Towne Bank: 1,768 loans
- Truist Bank: 1,746 loans
- Navy Federal Credit Union: 1,636 loans
- Caliber Home Loans, Inc.: 1,621 loans
Top Refinance Lenders in Maryland by Volume
- Rocket Mortgage, LLC: 1,524 loans
- PNC Bank: 1,285 loans
- Pennymac Loan Services, LLC: 932 loans
- Truist Bank: 888 loans
- Wells Fargo Bank: 730 loans
- Nationstar Mortgage LLC: 641 loans
- Manufacturers And Traders Trust Company: 587 loans
- Freedom Mortgage Corporation: 565 loans
- Bank Of America: 518 loans
- First National Bank Of Pennsylvania: 414 loans
Top Cash-Out Refinance Lenders in Maryland by Volume
- Rocket Mortgage, LLC: 4,769 loans
- Loandepot.com, LLC: 1,220 loans
- Nationstar Mortgage LLC: 1,185 loans
- Freedom Mortgage Corporation: 1,072 loans
- Wells Fargo Bank: 982 loans
- Pennymac Loan Services, LLC: 874 loans
- State Employees Credit Union Of Maryland, Incorporated: 803 loans
- Navy Federal Credit Union: 717 loans
- Newrez LLC: 536 loans
- Amerisave Mortgage Corporation: 489 loans
