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Mortgage rates in Utah

How they can vary, where they’re expected to trend and how to get a lower one.


Fact checked

Mortgage rates during the coronavirus

As mortgage rates fall to record lows in the wake of COVID-19, our partners are seeing an increase in demand for loans and refinancing. As they work through this influx of applications, you may see rates that are higher than expected — or no rates at all. We recommend comparing offers from multiple lenders to ensure you're getting the best deal possible.

Compare mortgage lenders in Utah

While house hunting in the Beehive State is no-doubt exciting, you’ll want to do everything you can to get the best mortgage rate possible. Utah rates average 4.703% for 30-year terms. Find out where they’ll go from there and how to better your chances of saving money.

Compare more mortgage lenders

Name Product Loan products offered State availability Min. credit score
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
(NMLS #174457)
Conventional, Jumbo, FHA, VA, Home Equity, Refinance
Available in all states
Access a wide range of mortgage and home equity options in person or online with this direct lender.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

How much do Utah rates vary?

Average mortgage rates in Utah range from 4.513% to 4.954% for 30-year loans and 3.982% to 4.254% for 15-year terms. Several criteria, such as loan type, can sway your interest rate. For example, government-backed products like FHA loans frequently have lower interest rates and stricter property and borrower requirements than conventional mortgages.

2018 average rates in Utah by loan type

Loan type15-year average rate30-year average rate

Conventional 4.254% 4.954%
FHA 3.982% 4.778%
VA 4.030% 4.565%
USDA Not available 4.513%

Based on data from

Say you have a $255,000, 30-year conventional loan with the 2018 average interest rate of 4.954%. Your monthly mortgage payment might be around $1,360, not including taxes and costs unique to your loan.

Alternatively, if you qualify for a government-insured FHA loan with the 2018 average rate of 4.778%, you might pay $1,330 each month. Even this savings of $30 per month could save you $9,800 over the life of the loan.

Mortgage rates in Utah will likely hover around the mid to upper 3% range.

Utah mortgage rates generally come in below the national average. In the last decade, mortgage rates averaged 0.03% lower than the rest of the country.

Housing agencies nationwide are expecting 30-year mortgage rates to stay under 4%, with predictions ranging from 3.55% to 3.90%. We can expect Utah mortgage rates to perform slightly below the national average in 2020.

Compare mortgage rates throughout Utah

The Beehive State has a handful of metropolitan areas. Although the average mortgage rate doesn’t vary much between regions, these areas do have different median loan amounts.

Using data from the Home Mortgage Disclosure Act, we formulated an estimate of the monthly cost of the average 30-year fixed-rate mortgage in distinct metropolitan areas in Utah. Rates and amounts do not account for costs specific to your loan.

Metropolitan statistical area (MSA)Average mortgage rateMedian loan amountEstimated monthly cost

Logan MSA (Cache County, UT) 4.776% $215,000 $1,120
Ogden-Clearfield 4.944% $235,000 $1,250
Provo-Orem 4.816% $275,000 $1,450
St. George 4.854% $255,000 $1,350
Salt Lake City 4.899% $275,000 $1,460

Based on data from

How to get the best mortgage rate in Utah

A few ways to help you get the best rate possible:

  1. Consider different loan programs. Lenders assign specific interest rates to their various loan products. Figure out what loans you qualify for to find the most competitive rate for your situation.
  2. Touch up your credit profile. Lenders typically reserve their best rates for those with the highest scores. Up your credit score and pay down debts to become a more attractive borrower.
  3. Assess the closing costs. Closing costs in Utah average 1.97% of the final purchase price in closing costs. Some lenders charge reduced interest rates while tacking on more fees and closing costs. Weigh your closing costs and mortgage rate together to see the actual cost of your home loan.

Historical mortgage interest rates in Utah

Bottom line

Although rates in Utah generally reflect the national average and may even come in slightly lower, lenders set your mortgage rate. Comparing loan products and lenders can help you find the most competitive rate and terms.

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