Utah mortgage and refinance rates

As of Sunday, June 28, 2026, current interest rates in Utah are 6.56 percent for a 30-year fixed mortgage and 6.06 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.

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.

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

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