Utah's housing market has been in a holding pattern for the past few years, and interest rates are the primary reason. Over 61% of Utah mortgage holders currently have rates below 4%, creating a powerful "lock-in effect" where homeowners simply don't want to sell and trade their 3% rate for a 6% one. But as rates continue to drop — currently sitting around 6.15–6.23% and forecast to potentially reach the high 5% range by late 2026 — that equation starts to change. For buyers in Weber, Davis, and Salt Lake counties, this could be the best entry point in years.