Right now mortgage interest rates are at an ALL TIME LOW. Meaning, the average Mortgage Rate is the lowest it has ever been. The average 30 year fixed loan is just 4.67% and the Average 15 Year fixed loan is just 4.13%. This means, if you have a great mortgage lender, and or purchase some points, you can get an even lower interest rate.
The 15 year fixed mortgage rate is so inexpensive right now that a house payment with a 15 year loan would be almost the same as a 30 year fixed payment if the interest rate was 8%.
Even though it’s possible that Utah Real Estate prices will increase over the next few years, from an affordability standpoint, housing might be the cheapest it will ever be. If this intrigues you, start looking for Utah homes for sale now.
