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Mortgage Market Update
My Mortgage Company
Collin Clifford
Thursday, September 3, 2026
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Should you refinance? Here's what to consider |
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Hi there. I wanted to share some clarity on a topic I hear about often: refinancing. It's not always the right move, but sometimes it absolutely is.
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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 it makes sense to refinance your mortgage
Refinancing isn't one-size-fits-all, but it's worth understanding when it might work in your favor. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. The catch is that refinancing comes with closing costs, so you want to make sure the long-term benefit outweighs what you'll pay upfront. That's where running the numbers matters—how long you plan to stay in your home, where rates stand compared to your current loan, and your overall financial picture all play a role. If you've been wondering whether refinancing could help your situation, I'd love to walk through it with you. Reach out anytime—no obligation to explore whether refinancing makes sense 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
Collin Clifford
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