SANDY — Mortgage rates have hit their lowest level in nearly a year.

According to Freddie Mac , the weekly average rate hit 6.58%, which hasn’t happened since October.

The drop has sparked an increase in mortgage applications nationally, but is it making any real impact on buyers in Utah’s difficult housing market?

A house for sale in Lindon, Utah is pictured on Friday, Aug. 15, 2025. (Stuart Johnson, KSL TV)

What Utah is seeing

Trevor Thompson, a real estate agent since 2005, has seen a lot over 20 years in the business. Lately, he’s been watching rates closely.

“We have been waiting for rates to come down in order to feel a boost in the market, which we haven’t quite felt yet,” Thompson said.

Mortgage rates hit historically low levels before they started rising in 2022, even b

See Full Page