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Mortgage Market Update
My Mortgage Company
Kimberly Silverman
Thursday, September 3, 2026
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Does refinancing make sense for you right now? |
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A lot of homeowners hear about refinancing and wonder if they're missing an opportunity. Let me share what I look at when deciding if it's actually worth doing.
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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 drop or your situation changes. The real question isn't whether you can refinance—it's whether the benefits justify the costs and time involved. I often talk with homeowners who wonder if they should lock in a lower rate, shorten their loan term, or tap equity for a project. Each scenario is different. What works for your neighbor might not work for you. That's why it helps to sit down and run the numbers together—looking at how long you plan to stay in the home, what your actual monthly savings would be, and whether your current loan still serves your goals. If you're curious whether a refinance might be worth exploring, let's chat. Reach out if you'd like to explore whether refinancing could work 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
Kimberly Silverman
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