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Mortgage Market Update
My Mortgage Company
Mortgage Resources
Thursday, September 3, 2026
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Does refinancing fit your plan right now? |
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Every homeowner's situation is different, and so are the reasons to refinance. This week I'm breaking down when it actually makes sense.
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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 a one-size-fits-all move—it depends on your goals and where you are in your loan. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or tap into home equity for a major expense. The trade-off is always closing costs and time, so it only pencils out if the benefit outweighs what you'll pay upfront. The best time to explore it is when your circumstances change—a new job, a big life event, or a shift in the market. If you've been in your home a few years and your financial picture looks different than it did at closing, it's worth a conversation. I'm here to walk through the numbers and help you figure out if it's the right move for you. Let's talk about 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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My Mortgage Company
Mortgage Resources
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