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Mortgage Market Update
My Mortgage Company
Nick Mastropietro
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Mortgage decisions don't always have obvious answers. Let me walk you through one that comes up a lot.
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National Mortgage Rates · August 27, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The decision depends on how long you plan to stay in your home, your current loan terms, and the costs involved in refinancing. I always tell clients: a lower rate is only valuable if you keep the loan long enough to recoup the expenses. If you're thinking about moving within a few years, refinancing might not pencil out. But if you're settling in for the long haul and rates have shifted meaningfully, it's worth a conversation. We can run the numbers together and show you exactly what the break-even point looks like for your specific situation. Let's talk through whether refinancing fits your plans.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Nick Mastropietro
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