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Mortgage Market Update
My Mortgage Company
Old- Sheila Garcia
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Hi there. Sometimes the smartest financial move is doing nothing. Other times, a small change can make a real difference.
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings will outweigh what you'll pay in closing costs and the time you plan to stay in your home. A lower rate sounds great, but if you're selling in two years, you might never recoup those upfront expenses. On the flip side, if you're staying put long-term and your situation has changed—lower rates, improved credit, or different loan needs—refinancing could genuinely lighten your monthly load or shorten your payoff timeline. The math matters more than the headlines. I'm happy to walk you through whether it pencils out for your specific situation. Reach out if you'd like to explore whether refinancing could work 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
Old- Sheila Garcia
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