Mortgage Rates in Maryland: Today's Averages & 2026 Outlook
Maryland 30-year fixed rates are running around 6.86% — roughly 1 bps above the national average of 6.85%. Here's how MD rates stack up, what drives the spread, and the programs that can price you lower.
Today's Maryland rates by loan type
Estimates for Maryland based on the current national 30-year average of 6.85% plus the state's typical spread (+1 bps). Live national rate sourced daily from Freddie Mac PMMS via our rate feed. Your actual quote will depend on your credit, down payment, and lender.
What drives Maryland mortgage rates
National rates set the floor — Freddie Mac's weekly PMMS average is the benchmark almost every Maryland lender starts from. But MD typically prices about 1 basis points above that national average because of three local dynamics: the mix of loan types written in the state, lender density and competition, and how expensive the state is to close in.
Loan mix. Conventional dominant; VA share high near DC and Baltimore. The mix matters because FHA, VA, and USDA loans price differently than conventional — states with heavier government-loan share tend to show tighter buyer rates but higher fees.
Median loan size. The typical Maryland loan is around $370,000 on a $415,000 home. That size sits well inside conforming loan limits, so most MD buyers get standard agency pricing.
Refi activity. Cash-out refis are more common than rate-and-term given deep equity.
What a typical Maryland payment looks like
| Line item | Estimate |
|---|---|
| Median home price | $415,000 |
| Median loan amount (typical LTV) | $370,000 |
| 30-yr rate (state avg) | 6.86% |
| Monthly principal & interest | $2,427 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$3,155 |
Directional math for Maryland in 2026. Add property taxes, homeowners insurance, PMI (if putting less than 20% down), and any HOA dues for a full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
What's unique about financing in Maryland
What most MD borrowers use
Conventional dominant; VA share high near DC and Baltimore.
Below-market MD rate options
Maryland Mortgage Program's 1st Time Advantage offers a competitive rate plus DPA options.
Is a refi worth it in MD?
Cash-out refis are more common than rate-and-term given deep equity.
Rate + grants + closing costs
A below-market rate is only one lever. Stack it with MD down-payment assistance and seller-paid closing costs. See MD grants → · MD closing costs →
Get matched with a Maryland lender — free
We'll match you with vetted MD lenders competing for your loan. Compare real Loan Estimates side-by-side — the same Maryland buyer can save $2,000–$5,000+ over the life of the loan by shopping three quotes.
Maryland mortgage rates: FAQ
What is today's mortgage rate in Maryland?▾
The average 30-year fixed mortgage rate in Maryland is around 6.86% — roughly 1 bps above the current national average of 6.85%. 15-year fixed loans run about 6.11%, FHA around 6.61%, and VA around 6.51%. Your actual rate depends on credit score, down payment, loan type, and lender competition — always compare Loan Estimates from at least three lenders.
How do Maryland mortgage rates compare to the national average?▾
Maryland rates typically sit slightly above (about 1 bps higher than) the US 30-year average. The spread reflects local lender competition, loan mix (conventional dominant; va share high near dc and baltimore.), and state-level closing-cost dynamics.
What monthly payment can I expect on a Maryland home?▾
On the median Maryland loan of $370,000 at 6.86% for 30 years, principal and interest run about $2,427/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues. Add roughly 25–35% to that P&I number to estimate a full PITI payment.
Are there special first-time homebuyer rate programs in Maryland?▾
Yes. Maryland Mortgage Program's 1st Time Advantage offers a competitive rate plus DPA options. These state-agency programs typically pair a below-market rate with down payment assistance — worth comparing against a standard conventional loan before locking.
Should I refinance my Maryland mortgage right now?▾
Cash-out refis are more common than rate-and-term given deep equity. The break-even math: divide your total refi closing costs by your monthly payment savings — if you'll stay in the home longer than the payback period, refinancing pays off. Our free Refi Optimizer runs the numbers for you.