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Mortgage Market Update
Scott Webster
Scott Webster
Thursday, September 3, 2026
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Refinancing might not be for everyone |
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Hello, I hope you're doing well. This week I want to clear up some common confusion around refinancing—because the right move depends entirely on your circumstances.
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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 a one-size-fits-all move. It can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it only makes sense if the math works for your situation. The key is understanding your break-even point: how long it takes for the savings to outweigh closing costs. If you're planning to stay in your home long enough to reach that point, refinancing might be worth exploring. The wrong time to refinance is when you're just chasing a lower number without considering the full picture. I'd be happy to walk you through whether it makes sense for you right now. Let's talk about whether refinancing fits your goals.
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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 Scott Webster team any time and we'll walk you through your options. |
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