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Mortgage Market Update
My Mortgage Company
Daniel Quinton
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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There's a lot of noise out there about refinancing. This week, I want to cut through it and help you think clearly about whether it's actually the right move for you.
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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, but it's worth understanding when it could work in your favor. The most common reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. Each scenario plays out differently depending on your current loan, how long you plan to stay in your home, and where rates stand today. I've seen refinancing save borrowers hundreds of dollars a month—and I've also seen cases where it didn't make sense for someone's specific timeline. The key is running the real numbers on your situation, not just assuming it's automatically a good move. If you've wondered whether refinancing could work for you, let's talk through the details and see what your options actually look like. Reach out if you'd like me to walk through whether refinancing makes sense for your loan.
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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
Daniel Quinton
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