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Mortgage Market Update
My Mortgage Company
Paulo Maria
Thursday, September 3, 2026
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Should you refinance? Here's how to tell |
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Hi there — this week I want to tackle a question I hear pretty often: is now the right time to refinance? The answer depends on a few personal factors, so let's break it down.
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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 can be a smart move, but it's not right for everyone or every situation. The main appeal is usually a lower payment or shorter loan term — but to get there, you'll need enough equity, decent credit, and a rate environment that actually works in your favor. There are also closing costs to consider, which means you need to stay in the home long enough for the savings to add up. The math isn't always obvious, which is why it helps to run the numbers with someone who knows your specific loan and timeline. If you've been wondering whether refinancing could help your situation, I'm happy to walk through it with you — no pressure, just clarity. Reach out if you'd like to explore whether refinancing makes sense for your home and budget.
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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
Paulo Maria
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