Mortgage rates rose in early October 2026, according to a report published October 2. The Freddie Mac weekly survey placed the average 30-year fixed rate at 7.28% on October 1, 2026, up from 7.03% on September 24. The 15-year average was recorded at 6.60%.
Asking prices for homes on the New Homes Advisory site as of October 3, 2026, showed different median values for Salt Lake County and Utah County. In Salt Lake County, the median asking price for single-family homes was $720,000, while townhomes were $494,000 and condos were $355,000. In Utah County, the median for single-family homes was $650,000, townhomes were $420,000, and condos were $316,000.
Between September 20 and September 30, price adjustments occurred for several listed homes. During that period, 92 homes had advertised prices cut, with the largest reduction being approximately $40,800. Additionally, 32 homes saw price increases, typically by about $4,300. Price cuts were reported from builders including EDG
Ehomes, Alpine Homes, Century Communities, Lennar, and Keystone Construction.
The report identified 45 builder offers available on approximately 730 homes, including rate buydowns, fixed-rate specials, and cash for design options or closing costs. Several offers have upcoming expiration dates: Lennar's weekly offer ends October 4, Meritage Homes' offer ends October 15, and offers from Richmond American, Woodside Homes, and Toll Brothers end October 18.
Deed records from Utah County indicate that June and July were the busiest months for closings in tracked communities. For instance, The Valley at Wildflower in Saratoga Springs recorded 15 closings in July and 10 in June. Silver Oaks in Santaquin recorded 7 closings in both July and September. September counts may increase as more late-month deeds are recorded.
Buyers are advised to compare full monthly costs rather than just the sticker price, noting that builder rate offers may require using the builder's lender. For those planning a visit to a model home, it is suggested to text Chuck Willman at 801-810-7770 first to ensure agent registration.
