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Mortgage Market Update
My Mortgage Company
Nebil Mathewos
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there — this week I want to walk through one of the most common questions I hear from homeowners.
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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 a one-size-fits-all move — it works for some borrowers and not others, depending on your situation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a larger project. The trade-off is that refinancing costs time and money upfront, so it only makes sense if the benefit outweighs those costs. I help borrowers run the math to see if it's worth it for them. If you've been in your home for a while, rates have moved, or your credit has improved, it might be worth a conversation. Let's talk through whether refinancing could work in your favor. Reach out and we can review your current loan to see if refinancing makes sense.
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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
Nebil Mathewos
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