Maryland
Mortgage Rates;
The market has leveled off but remains buoyant. The double digit price increases over the last few years is unsustainable and the market has now stabilized. This is a good thing as prospective buyers are more likely to enter a stable market. The economy in Maryland remains string and unemployment remains low. This coupled with low interest rates makes this a good time for buyers. Sellers and buyers should be confident about long term property investment.
Buyers have more choice as there are more homes on the market.
If you’re buying, make sure you shop around and negotiate hard. There are lots of good value homes on the market.
With the changing market, sellers will have to become more realistic about their asking prices. Competitively priced homes and adding incentives will help to sell your home. Invest in some home improvement before you put your home on the market as this will also attract buyers.
Below are examples of rates currently being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.375% to 6.250%
15 Yr Fixed : rates from 4.85% to 6.125%
1 Yr ARM : rates from 0.5% to 6.75%
3/1 ARM : rates from 4.75% to 6.375%
5/1 ARM : rates from 3.25% to 6.375%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.675% to 6.625%
15 Yr Fixed Jumbo : rates from 5.375% to 6.5%
1 Yr ARM Jumbo : rates from 0.5% to 5.75%
3/1 ARM Jumbo : rates from 5.375% to 6.375%
5/1 ARM Jumbo : rates from 2.0% to 6.375%
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Major Maryland
Cities;
Annapolis
Baltimore
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