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Mortgage Market Update
My Mortgage Company
Ryan Musgrove
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to walk through when refinancing actually pays off—and when it might not be worth your time.
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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 a refi makes sense (and when it doesn't)
Refinancing gets a lot of attention, but it's not always the right move. The core idea is simple: you replace your current loan with a new one, ideally with better terms. But "better" depends on your situation. Lower rates are the classic reason, but there's more to consider—how long you plan to stay in your home, closing costs, your current equity, and where rates are headed. Sometimes a refi saves you real money over time. Other times, the costs outweigh the benefit. I help borrowers run the actual numbers so you can decide with confidence, not guesswork. If you've been wondering whether refinancing makes sense for you, let's talk through your specific circumstances. Reach out anytime—I'm here to help you think 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
Ryan Musgrove
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