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Mortgage Market Update
My Mortgage Company
Scott John Millich
Thursday, September 3, 2026
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Should you refinance right now? |
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Markets shift, life changes, and sometimes your mortgage needs to shift with it. Let's talk about when refinancing actually pencils out.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the cost of closing. Some borrowers benefit from a lower rate or shorter loan term; others find that breaking even takes longer than they plan to stay in the home. Then there's the peace of mind factor—lower monthly payment, different loan type, or switching to a fixed rate when life gets uncertain. I help clients run the numbers honestly, not just chase rates. If you've been wondering whether now is your moment to refinance, let's talk through your specific situation. Reach out and we can review 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
Scott John Millich
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