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Mortgage Market Update
My Mortgage Company
Bret Bushman CRM
Thursday, September 3, 2026
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Should you refinance? Here's how to know. |
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Hi there. This week I want to tackle a question I hear a lot: when is refinancing actually a smart move?
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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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Smart Refinancing
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 tap equity for a major expense. But it also costs money upfront and takes time to close. The key is understanding your own numbers—how long you plan to stay in your home, what your current loan terms are, and what you'd owe to refinance. Some people see real savings within months; others need years to break even. There's no one-size-fits-all answer, which is exactly why it's worth having a real conversation about your specific goals. I'm here to walk through the math with you, no pressure. Let's talk through 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
Bret Bushman CRM
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