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Mortgage Market Update
Evan Karr
Evan Karr
Thursday, September 3, 2026
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Should you refinance? A simple way to tell. |
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Hi there. This week I'm breaking down refinancing—when it actually makes sense, and when it doesn't.
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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 loan
Refinancing isn't always the right move, but there are times when it can genuinely help your situation. The most common reason people refinance is to lower their monthly payment—either because rates have dropped or because they want to extend their loan term. Some borrowers refinance to switch from an adjustable rate to a fixed one, locking in stability. Others use it to tap into home equity for a major expense or consolidate debt. The trade-off is always worth understanding: refinancing comes with closing costs and a new loan term, so it only makes sense if the benefit outweighs what you'll pay to get there. If you've been wondering whether refinancing could work for you, I'd love to walk through the numbers and help you decide. Let's talk about whether refinancing fits your goals right now.
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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 Evan Karr team any time and we'll walk you through your options. |
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