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Mortgage Market Update
My Mortgage Company
Partners In Mortgage
Thursday, September 3, 2026
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Should you refinance? Let's figure it out |
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Some weeks bring questions about rates or payments. Other weeks, I hear from folks wondering if refinancing could improve their situation.
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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 actually makes sense
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question isn't whether you *can* refinance—it's whether the benefits outweigh the costs and how long you plan to stay in your home. Some people refinance to lower their rate, others to shorten their loan term or tap equity for a major expense. But closing costs are real, and you need a clear reason and timeline before moving forward. I'd rather help you think through whether it makes sense for your specific goals than push you into something that doesn't. Let's talk about what you're hoping to accomplish. If you're wondering whether refinancing could work for you, I'm here to walk through the numbers and options.
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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
Partners In Mortgage
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