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Mortgage Market Update
My Mortgage Company
Kevin Francis
Thursday, September 3, 2026
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Does refinancing pay off for you? |
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Hi there. Sometimes the smartest financial move is knowing when *not* to make one.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple on the surface—trade your old loan for a new one with better terms. But it's not always the right move, and the math matters. Your break-even point depends on how long you plan to stay in your home, your new interest rate, closing costs, and how much you'd lower your payment. Some people refinance to shorten their loan term or tap equity for a major expense. Others are chasing a rate drop that might not be worth the upfront costs. I help clients run the actual numbers so they know whether refinancing puts them ahead or just adds unnecessary expense. The answer is usually pretty clear once we dig in. Let's talk through whether it makes sense for your situation.
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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
Kevin Francis
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