Compare current mortgage rates in Maryland
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What are today's mortgage rates in Maryland?
As of Wednesday, July 2, 2025, our partner Rocket Mortgage® is offering a 30-year fixed mortgage with an APR of 7.417%, an increase of 80 basis points from last week. For government-backed options, a 30-year FHA loan has a current APR of 6.985%, the same as last week, while the 30-year VA loan stands at an APR of 6.780%, the same as last week.
What is a basis point?
A basis point is a finance term referring to 1/100th of 1% (0.01% or 0.0001). Basis points are used to compare percentages that are very low since comparing percentages using a percentage lift can be quite confusing. For example, an interest rate increase from 5.00% to 5.05% would be a 5 basis point increase.
What’s the difference between APR and interest rate?
When learning how mortgage interest works, it's important to understand the difference between your interest rate and your annual percentage rate (APR). Your mortgage interest rate is the cost you pay each year for your home loan, which will be shown as a percentage rate. Your mortgage interest rate does not take into account the fees you may have paid to your lender to complete your loan. On the other hand, your APR, which is also expressed as a percentage, is the annual cost of your home loan, including fees. The most common fee is a loan origination fee, but there are a number of other lender fees that may also apply and influence your APR, like processing or document prep fees.
Mortgage rate trends
2024-2025
Current Maryland mortgage rates by loan type
The table below is updated daily with average rates for common loan types. These averages are based on a 20% down payment and 740+ credit score.
| Product | Interest Rate | APR |
|---|---|---|
| 30-year fixed | 7.125% | 7.417% |
| 30-year jumbo fixed | 5.990% | 6.188% |
| 20-year fixed | 6.990% | 7.383% |
| 15-year fixed | 6.250% | 6.703% |
| 30-year fixed FHA | 6.125% | 6.985% |
| 30-year fixed VA | 6.375% | 6.780% |
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