Current Utah Mortgage Rates
Average market rates for December 03, 2025 in Utah are 6.25% for 30-year fixed purchase and 6.34% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.25% | 6.28% |
| 30-year Fixed Refinance | 6.34% | 6.36% |
Mortgage Rate Trends in Utah
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.25% | 6.28% |
| 30-year Fixed Refinance | 6.34% | 6.36% |
Utah Mortgage Rates vs. National Averages
We analyzed these Home Mortgage Disclosure Act (HMDA) data for the median mortgage rate nationwide and the same for Utah.
- Nationwide median mortgage rate in 2023 — 6.97%
- Utah median mortgage rate in 2023 — 6.95%
Many states have mortgage rates that differ more greatly from the national median.
Mortgage rates move all the time, often once or twice a day. So, there are times when rates in Utah are higher and lower than the national average.
Utah Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.38% | 5.43% |
| 15-year Fixed Jumbo Purchase | 6.21% | 6.24% |
| 30-year Fixed Purchase | 6.25% | 6.28% |
| 30-year Fixed Jumbo Purchase | 6.87% | 6.89% |
Utah Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.36% | 5.40% |
| 15-year Fixed Jumbo Refinance | 6.19% | 6.21% |
| 30-year Fixed Refinance | 6.34% | 6.36% |
| 30-year Fixed Jumbo Refinance | 6.87% | 6.89% |
Utah ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.04% | 6.08% |
| 5/6 Arm (refinance) | 6.07% | 6.10% |
| 5/6 Jumbo Arm (purchase) | 5.87% | 5.88% |
| 5/6 Jumbo Arm (refinance) | 5.91% | 5.92% |
How we source rates and rate trends
The Utah Housing Market
According to Redfin, in October 2024:
- The median single-family home price in Utah was $556,400. This was up 1.4% from the same time the previous year
- The number of homes sold was up by an average of 11% year over year
- In the same period, houses remained on the market for roughly 48 days, four more than a year earlier
This suggests a market that’s slowing just a little but remaining buoyant. If you’re looking to refinance, you’ll probably have a bit more equity to play with than a year ago.
However, if you’re a first-time buyer, things likely won’t have grown much easier over the previous 12 months. The good news is that home prices have risen more slowly than your salary probably has. So, saving for a down payment and general affordability might have gotten a little less daunting.
Redfin reckons that the top 10 metros in the state with the fastest-growing sales prices were:
- Grantsville, UT
- North Ogden, UT
- Park City, UT
- Saratoga Springs, UT
- Lehi, UT
- Provo, UT
- Clearfield, UT
- Brigham City, UT
- Clinton, UT
- Ogden, UT
Most Common Mortgage Types in Utah
- Conventional: 39,523 loans
- FHA: 6,298 loans
- USDA: 377 loans
- VA: 2,933 loans
How State Characteristics Affect Mortgage Rates
A number of drivers can cause a state’s mortgage rates to be higher or lower than average.
Credit Score
People with low scores almost always pay a significantly higher mortgage rate (and interest rates on all their other borrowing) than those with high scores.
And average scores vary considerably by state. Equifax is one of America’s leading credit bureaus, and it last analyzed the data in March 2024.
- Utah: 719
- Mississippi: 675
- Minnesota: 730
Utah had the 13th-best score at the time.
Regulatory Burden
Although much of the mortgage industry’s oversight is carried out by federal regulators, lenders must meet each state’s local standards, too. The state follows Utah Residential Mortgage Practices and Licensing Rules.
States that under-regulate mortgage lending can expose borrowers to abusive practices. However, those that over-regulate can see lenders incurring additional compliance expenses, sending either mortgage rates or closing costs (or both) higher.
State Residents’ Tendency to Shop Around
The more people in a state who comparison shop for mortgage rates, the lower the average rate should be. You might think that this would make little difference. But the Consumer Financial Protection Bureau (CFPB) says, “borrowers could save $100 a month (or more) by choosing cheaper lenders.” That’s a saving of $1,200 or more a year or $38,400 or more over the lifetime of a 30-year mortgage.
Comparison shopping is easier than it used to be. Check out different lenders’ offerings online and get quotes (“loan estimates”) from at least three.
First-Time Home Buyer Programs in Utah
Utah state offers many down payment assistance programs and is especially supportive of first-time buyers.
The meaning of first-time buyer is often defined as not having owned or having had any ownership interest in a home in the previous three years. There are often exceptions for single parents and sometimes other groups, such as veterans.
- Buyers who have lived in Utah for over one year could qualify for the state’s first-time Homebuyer Assistance Program. The Utah Housing Corporation’s (UHC’s) website has a helpful fact sheet about what’s on offer. However, it says interested parties should contact one of the program’s participating lenders as a first step. Expect to need a credit score of 620 or higher to qualify
- If you’re a veteran, law enforcement officer or corrections officer, the UHC has a special program for you. It can provide grants (not loans) to help with your down payment and closing costs
- The UHC also has a program to help first-time homebuyers purchase a newly constructed home. Funds of up to $20,000 can be borrowed for the home, but the purchase price may not exceed $450,000
- If you live in Salt Lake City, you may be able to access the city’s own down payment assistance programs. However, these had run out of budget when we visited, and you should keep checking to see when new funding is available
- Salt Lake City also offers a Community Shared Equity Program to those on average or low incomes. The buyer can purchase the home, but the land is leased from the city. This allows the city to maintain the home’s affordability for the future, while still allowing homeowners to build equity in their properties
If you’re looking for this sort of help, run a web search for “down payment assistance” plus the state’s or your city or county’s name. There are more than 2,000 such programs nationwide, and you may find one in Utah that suits you better than the UHC or Salt Lake City’s offerings.
Living In Utah Comes With a 10% Premium
We’ve already established that mortgage rates in Utah are close to the national average. However, the median sale price in the state is about 10% higher than that nationwide.
Redfin says that Utah’s price was $556,400 in October 2024, while the Federal Reserve Bank of St. Louis reckons the same figure across the country in the third quarter of 2024 was $501,100.
As of August 2024, National Mortgage News ranked Utah as having the fourth-highest monthly mortgage repayment in the nation.
Utah homeowners faced an average monthly payment of $2,891 that month. And the monthly repayment share of household income was an eye-wateringly high average of 33%. Still, it’s worth it to live in the Beehive state.
Top Purchase Lenders in Utah by Volume
- Intercap Lending Inc.: 3,626 loans
- First Colony Mortgage Corporation: 2,962 loans
- Securitynational Mortgage Company: 2,327 loans
- Academy Mortgage Corporation: 1,828 loans
- Rocket Mortgage, LLC: 1,381 loans
- Mountain America Federal Credit Union: 1,350 loans
- DHI Mortgage Company, Ltd.: 1,194 loans
- America First Federal Credit Union: 1,056 loans
- Citywide Home Loans, LLC: 1,055 loans
- Home Point Financial Corporation: 1,004 loans
Top Refinance Lenders in Utah by Volume
- Mountain America Federal Credit Union: 3,871 loans
- America First Federal Credit Union: 3,117 loans
- Zions Bancorporation, N.a.: 831 loans
- First Colony Mortgage Corporation: 580 loans
- Goldenwest: 470 loans
- Utah Community Federal Credit Union: 426 loans
- Rocket Mortgage, LLC: 411 loans
- Reverse Mortgage Funding LLC: 368 loans
- Longbridge Financial, LLC: 355 loans
- American Advisors Group: 346 loans
Top Cash-Out Refinance Lenders in Utah by Volume
- Rocket Mortgage, LLC: 2,613 loans
- Cyprus Federal Credit Union: 1,550 loans
- Goldenwest: 775 loans
- Loandepot.com, LLC: 768 loans
- America First Federal Credit Union: 683 loans
- Intercap Lending Inc.: 683 loans
- Home Point Financial Corporation: 636 loans
- Mountain America Federal Credit Union: 628 loans
- Pennymac Loan Services, LLC: 593 loans
- Freedom Mortgage Corporation: 562 loans
