Mortgage rates in Maryland
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
Maryland has among the highest median household incomes in the country. Below is what buying at Maryland's median price looks like at today's national average rate, plus the local property tax and assistance that actually change your payment.
What a mortgage costs in Maryland
The interest rate on a Maryland mortgage is the same 6.49% national average a lender would quote anywhere — rates are set by the bond market, not by your state. On Maryland's median $439,000 home with 20% down, the loan works out to $351,200, or about $2,218 a month in principal and interest.
What makes Maryland different is the cost around the loan. Its 1.02% effective property-tax rate adds roughly $373 a month, and homeowners insurance about $165 more — bringing the all-in estimate to $2,755. Those local costs, not the interest rate, are what set Maryland apart. Your own price and down payment will move the number — work backward from your income with the affordability estimator.
Getting approved in Maryland
Federal HMDA lending records show Maryland lenders originated 126,664 home loans in 2025 and denied 42,745 applications — an approval rate near 74.8% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our mortgage approval report, and how Maryland ranks for lender complaints (16,605 on record).
Shopping for a loan? See the most active mortgage lenders in Maryland, ranked by federal HMDA volume.
Down-payment help in Maryland
You rarely need 20% down. Maryland DHCD — Maryland's housing finance agency — runs the state's main assistance program: The Maryland Mortgage Program offers down-payment assistance and partner-match funds. Eligibility usually turns on income limits and a homebuyer-education course. Check current terms at Maryland DHCD, see how a smaller down payment changes your number with the down-payment estimator, or compare assistance in every state.
Maryland mortgage FAQ
What is the current mortgage rate in Maryland?
As of July 9, 2026, the U.S. average 30-year fixed rate is 6.49%. The note rate itself is set nationally, not by state — a lender prices your Maryland loan the same way it would anywhere, based on your credit, down payment and loan type.
What changes locally is everything around the rate: Maryland's ~1.02% effective property tax, insurance costs, and which assistance programs apply.
What is the monthly payment on a typical Maryland home?
On Maryland's median home price of about $439,000 with 20% down at today's 6.49% average 30-year rate, expect roughly $2,755/month — that's $2,218 principal and interest plus about $373 property tax and $165 insurance. Adjust the numbers for your exact price and down payment in our calculators.
How hard is it to get approved for a mortgage in Maryland?
In 2025, Maryland lenders originated 126,664 home loans and denied 42,745 applications — an approval rate of about 74.8% among decisioned applications, versus 76.6% nationally, according to federal HMDA data. See how every state ranks in our mortgage approval report.
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.