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Mortgage Market Update
My Mortgage Company
Angela Sanchez
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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I get a lot of questions about when to refinance, and the answer isn't one-size-fits-all. This week I want to help you think it through.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your home value rises. The real question is whether the benefit you'd gain covers the cost and time to close. Some people refinance to lower their monthly payment or shorten their loan term. Others tap equity for a major expense or consolidate debt. But if you're planning to move in a few years, the savings might not justify the closing costs. The same goes if your credit has taken a hit since you first borrowed—you might not qualify for better terms. I'd rather see you make a clear-eyed decision than rush into something that doesn't fit your situation. Let's walk through the numbers together and see if refinancing actually works for you. If you've been thinking about refinancing, I'd love to review your options with you—no pressure, just honest advice.
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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
Angela Sanchez
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