Utah Housing Corporation has announced today that its interest rate on home financing has increased to 4.875%. Along with their rate announcement they have made a policy change for how long their rate is valid. Here is their statement:

“In recent years, Utah Housing has announced interest rate changes effective for one full week each Friday. Effective immediately, UHC will no longer guarantee the announced rate for a full week and may announce rate changes more frequently. The most current rate will continue to be posted on UHC’s website and broadcast via email.”

Home buyers planning to use Utah Housing financing should understand that Utah Housing can change their rate at any time and lenders cannot guarantee a rate until a Mortgage Purchase Agreement is requested and an MPA is not requested until the loan is credit approved for a Utah Housing loan.