Utah mortgage and refinance rates
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Current mortgage rates in Utah
As of Friday, December 05, 2025, current interest rates in Utah are 6.25 percent for a 30-year fixed mortgage and 5.25 percent for a 15-year fixed mortgage.
Mortgage rates in Utah — and nationally — have more than doubled from the pandemic lows of several years ago. While they have dipped since their peak in 2023, many experts think that rates will stay in the 6 percent range for most of 2025 and into 2026. However, mortgage rates are notoriously difficult to predict.
Refinance rates in Utah
If you bought your home within the last few years, at a time when rates were closer to 8 percent, it might make sense to refinance now. Refinance rates in Utah, like elsewhere in the country, have fallen below 7 percent recently due to concerns about a potential recession and rising inflation. However, if you refinanced or took out your mortgage when rates were below 4 percent, refinancing again is unlikely to save you money anytime soon.
On the other hand, if you have a large expense coming up, tapping your equity with a cash-out refinance could be more affordable than other borrowing options. Around 40 percent of homes in Utah were “equity rich" as of the fourth quarter of 2025, according to property data provider ATTOM, meaning that the home’s mortgage balance is 50 percent or less than its value.
National mortgage rates by loan type
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate | 6.27% | 6.33% |
| 15-Year Fixed Rate | 5.57% | 5.67% |
| 30-Year Fixed Rate FHA | 5.78% | 5.84% |
| 30-Year Fixed Rate VA | 6.14% | 6.18% |
| 30-Year Fixed Rate Jumbo | 6.50% | 6.54% |
Rates as of Friday, December 05, 2025 at 6:30 AM
Utah housing market and mortgage statistics and trends
Utah can be a challenging state in which to purchase a home. The median home sale price in Utah is more than $150,000 above the U.S. median and it's grown by a steep 7.1 percent since this time last year. However, houses are spending longer on the market and a shrinking percentage are selling above their list price, suggesting a slowly cooling market.
- Median home sales price, September 2025: $587,100
- Median home value, August 2025: $543,817
- Median down payment, July 2025: $202,000
- Median days on market, September 2025: 55
- Percentage of homes sold above list price, September 2025: 19%
- Percentage of homes with price drops, September 2025: 32%
- Homeownership rate, Q1 2025: 68.1%
Sources: ATTOM, Redfin, U.S. Census Bureau
Mortgage options in Utah
These are some of the most common types of loans for homebuyers in Utah:
- Utah conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45 percent. With a down payment of less than 20 percent, you’ll need to pay private mortgage insurance (PMI) as well.
- Utah FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a credit score of at least 580, you may be eligible for an FHA loan with a down payment as low as 3.5 percent.
- Utah VA loans: If you’re a veteran or an active-duty member of the military, you may qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan won’t typically require a down payment, and you won’t have to pay for mortgage insurance, but you will need to pay a funding fee, which ranges from 1.25 percent to 3.3 percent of the loan amount.
- Utah USDA loans: If you’re buying a rural property in Utah, you might be eligible for a mortgage guaranteed by the U.S. Department of Agriculture (USDA). USDA loans don’t require a down payment, but you’ll need to purchase in a designated rural area and meet the area’s income limits.
First-time homebuyer programs in Utah
Utah Housing Corporation, the state’s housing finance authority, offers several programs for low- and moderate-income first-time homebuyers, including:
- FirstHome: The FirstHome mortgage offers a competitive interest rate for first-time buyers who have a credit score of 660 or better.
- First-Time Homebuyer Assistance Program: Borrowers can receive up to $20,000 to use toward a down payment or closig costs on a newly-constructed home. Its purchase price must not exceed $450,000. The funds don't need to be repaid unless the recipient sells the home.
How to find the best mortgage rate in Utah
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Step 1: Strengthen your credit score
Long before you start looking for a mortgage lender or apply for a loan, give your finances a check-up. This will give you time to pay down debt and improve your credit score, if needed.
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Step 2: Determine your budget
To find the right mortgage, you’ll need a good handle on how much house you can afford.
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Step 3: Know your mortgage options
Your budget and financial situation will help you determine what type of loan you need.
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Step 4: Compare rates and terms from several lenders
Reading reviews and ratings of Utah mortgage lenders can help you narrow down your options. Then compare rates and terms from at least three lenders to find the best deal possible.
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Step 5: Get preapproved for a mortgage
Getting a mortgage preapproval is the only way to get accurate loan pricing for your specific situation. It also shows sellers you’re a serious buyer.
Additional Utah mortgage resources
- Utah loan limits by county: Learn the conforming loan limit for your city or town.
- How to buy a house in Utah: Get ready for a successful house hunt with this guide.
- Best homeowners insurance companies in Utah: Check out recommended carriers offering homeowners insurance policies in Utah.
- Mortgages
- Mortgage refinancing
