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Mortgage Market Update
My Mortgage Company
Andrew Weinberg
Thursday, September 3, 2026
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Does refinancing make sense for you right now? |
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I've had several clients ask lately whether they should refinance. The answer depends on your unique circumstances, and I'm here to help you figure it out.
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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 does it make sense to refinance?
Refinancing isn't always the right move, but there are real moments when it can help. If rates have dropped meaningfully since you locked in your mortgage, or if your credit score has improved, you might be able to lower your monthly payment or shorten your loan term. Another common reason: switching from an adjustable rate to a fixed rate for peace of mind. The catch is that refinancing involves closing costs, so it only makes financial sense if you'll stay in the home long enough to recoup those upfront expenses. I'd be happy to run the numbers for your specific situation—there's no obligation, just clarity. Let's talk about whether refinancing could work for you.
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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
Andrew Weinberg
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