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Mortgage Market Update
My Mortgage Company
Whit Bates
Thursday, September 3, 2026
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Does refinancing pay off for you? |
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Hi there. Rate movements can be tempting, but they're not always a signal to refinance. Here's how to decide.
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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 shift. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and your current loan terms. Sometimes a rate drop of half a point isn't enough to justify the expense. Other times, refinancing from a 30-year loan into a 15-year loan can build equity faster, even if your payment goes up slightly. The key is looking at the full picture—not just the rate itself. I can run the numbers with you to see whether refinancing would actually put you ahead, or if you're better off staying put. Let's talk through whether refinancing makes sense for your situation.
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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
Whit Bates
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