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Mortgage Market Update
My Mortgage Company
JAG
Thursday, September 3, 2026
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Thinking about refinancing? Read this first |
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Hi there. This week I'm walking you through one of the most common questions I hear—and why the answer isn't always yes.
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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 benefit you'd gain outweighs the cost and time involved in closing a new loan. Sometimes staying put is the smarter choice—especially if you're already a few years into your mortgage or planning to sell within the next several years. I always recommend we run the actual numbers for your situation: how much you'd save monthly, how long before you break even on closing costs, and what your goals are for your home. There's no one-size-fits-all answer, which is why it's worth a real conversation. Let's talk through whether refinancing makes sense for you 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 My Mortgage Company team any time and we'll walk you through your options. |
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