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Mortgage Market Update
My Mortgage Company
Barrett Financial Group - Marco Guzman
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to cover a question I hear often: Is now a good time to refinance? The answer isn't one-size-fits-all, so let me break down what actually matters.
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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)
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you access cash for home improvements or other goals. But it also comes with closing costs and a new loan timeline, so it's not always the right move. The key is looking at your specific numbers—how long you plan to stay in the home, what your current rate and terms are, and what you'd qualify for today. I've seen refinancing be a smart financial move for some clients and the wrong choice for others in nearly identical circumstances. That's why it's worth having a real conversation instead of guessing. Let's talk through whether it could help you. Reach out if you'd like to explore whether refinancing fits your goals.
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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
Barrett Financial Group - Marco Guzman
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