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Mortgage Market Update
My Mortgage Company
Jeff McCarthy
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there—this week I want to tackle a question I hear often: should I refinance? The answer isn't one-size-fits-all, but here's how to think about 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 (and when it doesn't)
A lot of homeowners wonder if refinancing is right for them. The truth is, it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity—but it also involves costs and a new application process. The key is understanding whether the long-term benefit outweighs what you'll pay upfront. Some people refinance and save thousands; others find it doesn't pencil out for their timeline. That's why it's worth talking through the numbers specific to your loan and goals before making a move. I'm happy to walk you through whether it makes sense in your case. Let's talk through whether refinancing could work for you.
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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
Jeff McCarthy
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