Mortgage Rates in Maryland Today: A 2026 Buyer's Reference (30-Year, FHA, VA, Jumbo)

Part of: The Complete Guide to Buying a Home in Montgomery County, MD

Key Takeaways: As of mid-2026, the 30-year fixed conventional rate in Maryland is running in the 6.5%–7.0% range (Freddie Mac PMMS), with FHA at 6.25%–6.875%, VA at 6.0%–6.75%, 15-year fixed at 5.875%–6.375%, and jumbo loans at 6.625%–7.125%. Maryland rates are not meaningfully different from national rates — there is no "Bethesda rate" or "Baltimore rate," only lender-level pricing differences for the same borrower profile. The single biggest lever on your rate is credit score, followed by loan-to-value ratio and points paid at closing. Get 3–5 written Loan Estimates on the same day to shop accurately.

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This is the evergreen reference. For point-in-time commentary on rate direction, see Mortgage Rates Are Rising in Spring 2026 and Mortgage Rates Hit a 3-Year Low. For the points trade-off, see Are Mortgage Points Worth It in Maryland?.

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What Are Current Mortgage Rates in Maryland?

The honest answer: the same as national rates, with a small spread for lender competition and your specific borrower profile. Maryland doesn't have state-specific mortgage rate regulation, so the rate you'll see in Bethesda, Rockville, Annapolis, Baltimore, or Frederick is essentially the rate Freddie Mac publishes in its weekly Primary Mortgage Market Survey, adjusted for your credit, your LTV, the loan product, and the lender's margin.

Mid-2026 indicative ranges for a well-qualified Maryland borrower (740+ credit, 20% down, owner-occupied primary residence):

| Loan type | Rate range | Notes | |---|---|---| | 30-year fixed conventional | 6.5% – 7.0% | The market benchmark | | 15-year fixed conventional | 5.875% – 6.375% | ~0.5–0.625% below 30-year | | FHA 30-year fixed | 6.25% – 6.875% | Lower nominal rate, but MIP adds cost | | VA 30-year fixed | 6.0% – 6.75% | Best rates available if eligible | | USDA 30-year fixed | 6.25% – 6.875% | Rural eligibility only — limited in MoCo | | 30-year jumbo (above $806,500 conforming limit) | 6.625% – 7.125% | Tighter underwriting; rate spread varies | | 5/1 ARM | 6.125% – 6.75% | Lower initial rate; risk after year 5 | | 7/1 ARM | 6.25% – 6.875% | Most common ARM choice | | Cash-out refinance | 6.875% – 7.5% | Premium to purchase rate |

These ranges shift weekly. Always confirm against the Freddie Mac PMMS or Mortgage Bankers Association before relying on them for a real decision.

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Where to Check Live Mortgage Rates for Maryland

For an accurate, current number, use one of these — all free, all updated weekly or daily:

1. Freddie Mac PMMS — The single most-cited national 30-year average. Updated every Thursday. Conservative; tracks the most common borrower profile.
2. Mortgage Bankers Association Weekly Survey — Tuesday release. Splits by purchase vs refinance and by loan size.
3. Mortgage News Daily — Updated daily; the rate quote closest to what a lender will actually offer today.
4. FRED — 30-Year Mortgage Average — Historical chart for context.
5. Lender-direct Loan Estimates — The only rate that legally matters for your loan is the one on your Loan Estimate form, which lenders must produce within 3 days of an application.

Avoid the rate aggregator sites (Bankrate, NerdWallet, Zillow Mortgages) for anything beyond casual benchmarking — they show advertised teaser rates that often require points and assume perfect borrower profiles.

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Do Mortgage Rates Differ Across Maryland Cities?

Not in any meaningful way. The same conventional 30-year fixed loan to the same borrower will quote within a few basis points of itself whether the property is in Bethesda, Rockville, Annapolis, Baltimore, Frederick, Silver Spring, or Salisbury. The mortgage rate is set by the secondary market (Fannie Mae and Freddie Mac for conforming loans, the jumbo investor market for non-conforming) — not by local geography.

What does change by location:

• Property tax escrow — Montgomery County 1.0% effective rate vs Baltimore County 1.1% vs Howard 1.25% changes your monthly PITI, not your interest rate. See Montgomery County property tax.
• Homeowners insurance — Coastal MD properties carry higher premiums.
• Loan limits — The 2026 conforming loan limit is $806,500 in most Maryland counties, rising to $1,209,750 in the high-cost DC Metro counties (Montgomery, Prince George's, Frederick, Howard, Charles, Calvert, and Anne Arundel are typically at the high-cost ceiling). Crossing this threshold pushes you into jumbo territory with a different rate sheet — see Jumbo Loans in Bethesda & Potomac.

So when buyers ask "what are mortgage rates in Bethesda?" vs "what are mortgage rates in Baltimore?" — the answer is the same rate sheet. The differences they're seeing in online quotes are usually loan-amount differences (jumbo vs conforming) or borrower-profile differences, not geography.

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What Drives Maryland Mortgage Rates?

Mortgage rates track the 10-year Treasury yield more closely than any other indicator. The mortgage-backed securities (MBS) market prices off Treasuries, so when the 10-year moves, 30-year fixed mortgage rates follow within a day or two with a typical spread of 150–200 basis points (1.5%–2.0%) above the 10-year.

Key drivers in order of impact:

1. Federal Reserve policy — Not the Fed funds rate directly (that's an overnight rate), but the Fed's stated path and balance-sheet position. When the Fed signals tightening, mortgage rates rise.
2. Inflation data — CPI and PCE releases move rates the day of publication.
3. Employment data — Strong jobs reports push rates up (Fed less likely to cut); weak reports push rates down.
4. MBS spread — The spread between Treasury yields and MBS yields widens during financial stress, raising rates relative to Treasuries.
5. Lender competition — In hot purchase markets, lenders compress margins. In slow markets, they widen them.

None of these are Maryland-specific. Maryland mortgage rates are a national rate plus a small lender-margin variation.

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FHA, VA, Conventional, and Jumbo: Which Rate Should You Care About?

Each loan program has its own rate sheet and its own borrower fit. Pick the program first, then shop the rate.

Conventional (Fannie Mae / Freddie Mac): The baseline. Best for borrowers with 5%+ down and 620+ credit score. Above 20% down, no PMI. Standard for most Montgomery County purchases.

FHA: Lower minimum down payment (3.5%) and lower minimum credit (580 for 3.5% down, 500 with 10% down). Lower nominal interest rate than conventional, but Mortgage Insurance Premium (MIP) is required for the life of the loan in most cases — adds ~0.55%–0.75% effective cost. Best for first-time buyers and credit-constrained borrowers. Often pairs with Maryland MMP down payment assistance.

VA: Available to active-duty military, veterans, and qualifying spouses. 0% down required, no monthly mortgage insurance, lowest rate of any major program. If you're VA-eligible, this is almost always your best loan. See FHA, Conventional, and VA Loans in Montgomery County for the full program comparison.

USDA Rural Development: 0% down, lower rates, but property must be in a USDA-designated rural area — most of Montgomery, Howard, Anne Arundel are not eligible; large parts of Frederick, Carroll, Cecil, southern MD, and the Eastern Shore are.

Jumbo (above $806,500 / $1,209,750 in high-cost counties): Required for higher-priced Bethesda, Potomac, Chevy Chase, and Northern Virginia purchases. Tighter underwriting (700+ credit, 20%+ down typical, larger reserves required), rate may be slightly above or below conventional depending on the investor market. See jumbo loans in Bethesda & Potomac for the full picture.

Conforming vs jumbo decision rule: If your loan amount is within $50K of the conforming limit, consider increasing your down payment to stay conforming — the rate and underwriting are typically more favorable.

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Fixed vs Adjustable: Which Rate Should You Choose in 2026?

For most Maryland buyers in the 6.5%–7.0% rate environment, the answer is 30-year fixed. The reasons:

• The yield curve is flat-to-inverted — ARM rates are only ~0.25%–0.5% below fixed, with no upside cushion
• Long-hold buyers (5+ years in the home) carry rate risk on ARMs that doesn't pay off at this spread
• Refinancing is always an option if rates drop — locking a low fixed and waiting is cheaper than the ARM gamble in a rising-rate environment

ARMs make sense in a narrower set of cases:

• You're certain you'll sell or refinance within the fixed period (typically 5 or 7 years)
• The ARM-vs-fixed rate spread is meaningfully wide (~1%+)
• You're risk-tolerant and have the financial cushion to absorb a rate reset

For the deeper trade-off, see Fixed vs Adjustable Rate Mortgage in Maryland.

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How to Lock the Best Mortgage Rate in Maryland

Six things that meaningfully move your rate, in order of impact:

1. Credit score. The single biggest lever. A 760 credit score versus a 680 can be 0.5%–0.75% in rate difference — on a $500K loan over 30 years, that's $80,000–$120,000 in interest. Pull all three bureaus 90 days before applying and fix any issues.
2. Loan-to-value (LTV). 20% down (80% LTV) is the threshold where PMI disappears and rate pricing improves. Below 60% LTV, rates often drop another tier.
3. Shop 3–5 lenders on the same day. Mortgage rate shopping within a 14-day window counts as a single credit inquiry for FICO purposes. Get written Loan Estimates from a mix of: a national bank, a credit union, a mortgage broker, and an online lender. The spread you'll see can be 0.25%–0.5% for the same loan.
4. Points (or no points). Paying 1 point (1% of loan amount) typically buys down the rate by 0.25%. The math only works if you'll hold the loan past the break-even — usually 4–7 years. See Are Mortgage Points Worth It in Maryland?.
5. Loan type and term. 15-year fixed runs ~0.5% below 30-year fixed. Conforming runs below jumbo, usually. VA runs below FHA runs below conventional for the same borrower profile.
6. Rate lock timing. Lock for 45 days when you go under contract. Free 14-day extensions are usually available. Locking a "float-down" option costs $300–$500 but can save thousands if rates drop before close.

The single most expensive mistake I see Maryland buyers make is shopping only one lender or only their bank. The rate they show you is the rate they show you — without comparison Loan Estimates, you have no way to know if it's competitive.

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What About Refinance Rates in Maryland?

Refinance rates run ~0.125%–0.375% above purchase rates for the same borrower profile and loan amount. The premium reflects two things: refinance loans are higher-risk for lenders (the new appraisal sometimes comes in low, and rate-shopping borrowers churn through products), and the pricing is set by a different investor pool.

Rule of thumb for refinancing: the break-even point on closing costs is typically 24–36 months. If your rate drop is 0.75% or more and you'll stay in the home for at least 3 more years, run the numbers. Below 0.5% rate drop, the math rarely works after closing costs of $4,000–$8,000.

Cash-out refinances carry an additional 0.25%–0.5% premium over rate-and-term refinances and have stricter LTV limits (typically 80% max). If you're tapping equity, also consider a HELOC (currently 8%–10% variable) or home equity loan (currently 8.5%–10.5% fixed) — they're cheaper for smaller amounts and don't require touching your existing low-rate first mortgage.

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Mortgage Rate FAQs

What are mortgage rates in Maryland today?

As of mid-2026, the 30-year fixed conventional rate is running 6.5%–7.0% for a well-qualified borrower (740+ credit, 20% down). Check Freddie Mac PMMS for the current weekly number and your specific lender Loan Estimate for the actual rate available to you.

Are mortgage rates in Bethesda or Annapolis different from the rest of Maryland?

No. The same conventional 30-year fixed loan to the same borrower will quote nearly identically in Bethesda, Annapolis, Baltimore, Frederick, Rockville, and across Maryland. What changes by location is property tax, insurance cost, and the conforming loan limit (high-cost counties: $1,209,750 in 2026; standard MD counties: $806,500). The interest rate itself is national, with small lender-level variation.

What's the current 30-year fixed mortgage rate in Maryland?

The mid-2026 range for a well-qualified Maryland borrower on a conforming 30-year fixed conventional is 6.5%–7.0%. The current weekly average is published every Thursday by Freddie Mac.

What's the current FHA mortgage rate in Maryland?

FHA 30-year fixed is running 6.25%–6.875% in mid-2026 — slightly below conventional in nominal rate, but the Mortgage Insurance Premium (MIP) adds 0.55%–0.75% in effective annual cost for the life of most FHA loans. Whether FHA or conventional is cheaper depends on your credit score, down payment, and how long you'll hold the loan.

What's the current VA mortgage rate in Maryland?

VA 30-year fixed is running 6.0%–6.75% in mid-2026, with no down payment required and no monthly mortgage insurance. VA carries a one-time funding fee (1.25%–3.3% depending on use and down payment) that can be financed into the loan.

What's the current jumbo mortgage rate in Maryland?

Jumbo 30-year fixed (loan amounts above $806,500, or above $1,209,750 in the DC Metro / Montgomery County high-cost band) is running 6.625%–7.125% in mid-2026. The spread vs conforming has compressed in recent years — sometimes jumbo even runs below conforming for top-tier borrowers. See Jumbo Loans in Bethesda & Potomac.

What's the current 15-year fixed mortgage rate in Maryland?

15-year fixed is running 5.875%–6.375% — typically 0.5%–0.625% below the 30-year fixed rate. Monthly payments are higher but total interest paid over the loan life is dramatically lower.

Where can I find a Maryland mortgage rate calculator?

For a quick PITI estimate, see Mortgage Payment Calculation in Maryland. For total carrying cost including taxes, insurance, HOA, and maintenance, see How Much House Can You Afford in Montgomery County.

Will mortgage rates drop in 2026 or 2027?

Forecasters from Fannie Mae and the Mortgage Bankers Association expect rates to drift modestly lower through 2026 and into 2027, but the path is uncertain. Inflation data, Fed policy, and global financial conditions all drive the trajectory. Don't make a buying decision on a forecasted rate — make it on the rate available today and refinance if a better one shows up.

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The Bottom Line

Maryland mortgage rates in 2026 are running in the 6.5%–7.0% range for conventional 30-year fixed, with FHA, VA, jumbo, and ARM products fanned around it. The rate is national, not Maryland-specific — what makes one Maryland buyer's rate different from another is credit score, down payment, loan type, lender choice, and points paid, not the city.

The single highest-ROI thing you can do before locking a rate: shop 3–5 lenders on the same day with written Loan Estimates in hand. The spread is real, the math is easy to compare side-by-side, and the difference can be tens of thousands of dollars over the life of the loan.

If you'd like a frank read on whether you should buy now at today's rates, wait for a different rate environment, or refinance an existing loan — that's the conversation worth having before you sign anything.