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Mortgage Market Update
My Mortgage Company
Rowley Mesa
Thursday, September 3, 2026
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Does it make sense to refinance your loan? |
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Hi there. I get asked about refinancing a lot, and it's usually because something has changed—rates, your credit, or your plans.
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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 shift. The key is whether the benefit outweighs your costs and how long you plan to stay in your home. If you're thinking about it, I walk borrowers through a simple question: will the monthly savings add up to more than what you'll pay in fees and closing costs? The timeline matters too. If you're planning to move or pay off your loan within a few years, refinancing might not pencil out. But if you're staying put and the numbers work, it can free up real cash or shorten your payoff schedule. I'd be happy to run the math with your specific situation—no obligation, just clarity. Let's talk through whether refinancing fits your goals right now.
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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
Rowley Mesa
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