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Mortgage Market Update
My Mortgage Company
Gigi Prieto
Thursday, September 3, 2026
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Should you refinance? Let's do the math |
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Hi there. This week I want to talk about one of the most common questions I hear: when is the right time to refinance?
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'll pay in closing costs, and your current loan terms. Sometimes a small rate improvement doesn't pencil out if you're selling in a few years. Other times, the savings are clear and worth acting on. I've seen borrowers leave money on the table by waiting for "perfect" rates that never come, and others refinance too often and eat up gains in fees. The key is running the actual numbers for your situation—not chasing headlines or your neighbor's deal. If you're wondering whether a refinance would work in your favor right now, let's walk through it together. Give me a call and we'll look at whether refinancing makes sense for you.
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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
Gigi Prieto
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