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Mortgage Market Update
My Mortgage Company
Jonathan Ortega
Thursday, September 3, 2026
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Should you refinance? Here's how to tell |
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Hi there. This week I want to talk about refinancing—when it might work for you, and when it might not.
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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 for you
Refinancing isn't one-size-fits-all, but it's worth understanding when it might work in your favor. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or tap into home equity for a major expense. The key is weighing the costs of refinancing against what you'd actually save over time. If you're planning to stay in your home long enough to recoup those costs, it could be a smart move. I'm happy to walk through the numbers with you—no pressure, just clarity on whether it makes sense for your situation. Let's talk about whether refinancing could help you reach your goals.
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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
Jonathan Ortega
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