Mortgage Rates in Olney, Maryland — March 2026
Updated March 2026 | Based on Olney market data and regional lending conditions
Olney is a growing city in Maryland with a population of 35,350. The current 30-year fixed mortgage rate in Olney is 6.84%, which is 0.19% above the national average. With a median home price of $323,000 and a 20% down payment of $64,600, homebuyers can expect a monthly principal and interest payment of approximately $1,691.
Current Mortgage Rates in Olney, MD
Below are the current average mortgage rates available in the Olney area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.84% | 6.65% | +0.19% |
| 15-Year Fixed | 6.06% | 5.89% | +0.17% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.09% | 6.85% | +0.24% |
Olney Housing Market Overview
The Olney housing market reflects moderate demand with prices near the national average. The median household income in Olney is $84,600, and the cost of living index is 116.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $85,157 to comfortably afford the median-priced home in Olney, which exceeds the current median household income.
Monthly Payment Breakdown for Olney
Based on the median home price of $323,000 with 20% down ($64,600), here is what you can expect to pay monthly in Olney:
15-Year vs. 30-Year Mortgage in Olney
Choosing a 15-year mortgage in Olney at 6.06% instead of a 30-year at 6.84% would save you $214,740 in total interest over the life of the loan. However, your monthly payment would be $2,189 instead of $1,691 — an increase of $498 per month.
Calculate Your Olney Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Olney
What are the current mortgage rates in Olney, MD?
As of March 2026, the average 30-year fixed mortgage rate in Olney, Maryland is 6.84%, while the 15-year fixed rate is 6.06%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.19% above the national average of 6.65%.
How much is a monthly mortgage payment in Olney?
Based on the median home price of $323,000 with 20% down, the estimated monthly mortgage payment in Olney is $1,691 for principal and interest. Including property taxes of $296/month, the total monthly housing cost is approximately $1,987.
What income do I need to buy a home in Olney?
Using the 28% rule, you would need an annual income of approximately $85,157 to afford the median-priced home in Olney at $323,000. The median household income in Olney is $84,600. This means most households would need to either earn above the median or consider homes below $323,000.
Is Olney a good place to buy a home in 2026?
Olney has a moderate cost of living with a cost of living index of 116.6 (national average = 100). The property tax rate in Maryland is 1.1%, which is near the national average. Olney has a population of 35,350 and offers a balanced lifestyle.
Mortgage Rates in Other Maryland Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Olney, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.