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Mortgage Market Update
My Mortgage Company
The Bank With Will Team
Thursday, September 3, 2026
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Should you refinance? Here's how to know. |
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A lot of homeowners ask me about refinancing—but not everyone should do it. This week I want to break down when it actually makes financial sense.
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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 sounds like a fix-all, but it's really a tool—and like any tool, it works best for specific jobs. The most common reason to refinance is to lower your interest rate, which reduces your monthly payment. But refinancing also resets your loan term, so if you're already five years into a 30-year mortgage, you could end up paying longer overall. There are other reasons to refinance too: switching from an adjustable to a fixed rate, tapping equity for a large expense, or consolidating debt. The catch is that refinancing costs money upfront, so you want to make sure the benefit outlasts those costs. Every situation is different, which is why it's worth a conversation before you decide. I'm here to walk through the numbers with you and help you figure out if a refinance makes sense right now. If you're curious whether refinancing could work for you, let's talk through your 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
The Bank With Will Team
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