If you’ve been watching the Maryland housing market, you’ve likely noticed two things.
- Home values have stayed strong.
- Mortgage rates remain higher than many buyers and homeowners would prefer.
That mix is changing how people make decisions. The market is still active, but buyers and sellers are taking a more thoughtful approach.
Here is what that means for you.
Where mortgage rates stand in Maryland
As of early April 2026, mortgage rates in Maryland are generally in the mid-6% to low-7% range, depending on the loan type and borrower profile.
- Conventional loans are around 6.375% to 7.000%
- Government-backed loans, including FHA, are often around 6.000% to 6.500%
Rates have come down from their late 2023 peak near 8%. But, they remain higher than what many homeowners locked in a few years ago.
How today’s rates affect buying, selling, and refinancing
Buying a home
Higher rates impact your monthly payment more than anything else. That is why many buyers are focusing on affordability first by:
- Adjusting their price range to stay within budget.
- Paying closer attention to total monthly cost, not just purchase price.
- Exploring first-time home buyer programs and down payment assistance.
The pace is more balanced than in recent years. Buyers often have more time to evaluate options and make informed decisions.
Selling a home
The Maryland housing market still supports sellers, but strategy matters more than ever.
- Home values remain strong in many areas.
- Buyers are more selective and payment-conscious.
- Pricing and presentation play a bigger role in attracting offers.
Homes that are well-prepared and priced appropriately continue to sell.
Refinancing your mortgage
Refinancing may not be the right move for everyone right now. If your current rate is below four percent, moving into a higher rate loan can increase your overall cost.
There are still situations where refinancing can help.
- Change your loan term to match your goals.
- Consolidate higher interest debt.
- Adjust to a change in income or expenses.
If those don’t apply to you, it may make sense to keep your current mortgage and explore other options.
What to do next based on your goals
Your next step should match your financial goals, not just the market.
If you’re buying
- Set your budget based on monthly affordability.
- Get pre-approved so you understand your options.
- Be ready to act when the right home becomes available.
If you’re selling
- Price your home based on current market conditions.
- Invest in preparation and presentation.
- Work with professionals who understand your local market.
If you’re staying in your home
Many homeowners are choosing to stay put and make the most of what they already have. That includes finding ways to use the equity they’ve built without replacing their current mortgage.
A flexible way to leverage your home’s value
Your home is more than just a place to live. It can also be a financial tool.
A home equity line of credit, or HELOC, lets you borrow against your home’s value while keeping your current mortgage. Think of it like a flexible line of credit that you can use when needed, similar to having access to a reserve tank in your car when you need extra fuel.
For a limited time, SECU is offering qualified borrowers a fixed 1.99% promotional APR* for six months on a home equity line of credit.
This can help you:
- Make home improvements.
- Consolidate higher interest debt.
- Cover large or unexpected expenses.
- Create more flexibility in your financial plan.
Make a move that fits your life
Today’s market isn’t about perfect timing but making a move that fits your goals.
- Buyers are focusing on monthly affordability.
- Sellers are adjusting expectations and planning ahead.
- Homeowners are finding smart ways to use their equity.
If you are ready to explore your options or want guidance tailored to your situation, connect with the SECU team. We are here to help you make confident financial decisions every step of the way.
