mortgage rates today maryland: a beginner’s guide to comparing offers

What shapes today’s rates

Lenders in Maryland price mortgages based on national bond yields, local competition, and your profile. Quotes can shift intraday; even an eighth of a percent matters over 30 years. Credit score, down payment, loan-to-value, and fixed versus adjustable choices all drive pricing. County taxes and insurance influence your APR, so compare full Loan Estimates-not headlines.

If you’re near conforming limits, ask about pricing at different loan sizes and discount points. Paying points lowers the note rate only if you’ll keep the loan long enough to break even-let your time horizon decide.

How to start

1. Check credit and debt-to-income; fix quick issues before applying.
2. Gather quotes from at least three lenders on the same day.
3. Compare rate, points, lender fees, and cash to close line by line.
4. Confirm lock length, float-down options, and worst-case reprice rules.

First-time buyers may find assistance or reduced mortgage insurance offsets a slightly higher rate. A responsive local loan officer who knows Maryland timelines can simplify closing and help you capture a favorable dip in today’s market.