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Mortgage Market Update
My Mortgage Company
Luke Morris
Thursday, September 3, 2026
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Should you consider refinancing? |
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Hi there. Markets change, life happens, and sometimes your mortgage strategy needs to shift with it. This week I want to cover when refinancing actually pencils out—and when it might not be worth it.
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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 for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question is whether a new loan would lower your costs or change your timeline in a way that matters to you. Some people refinance to shorten their loan term, others to tap into equity for a major expense, and some to adjust their rate when market conditions shift. The catch is that refinancing comes with its own costs—and those need to pencil out against what you'll save. That's where talking through the numbers with someone who knows your full picture makes all the difference. I'm happy to walk you through whether refinancing could work for you—just reach out and we can talk it through.
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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
Luke Morris
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