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Mortgage Market Update
My Mortgage Company
Patricia Nagler
Thursday, September 3, 2026
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Should you consider refinancing right now? |
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Hi there. This week I want to talk about refinancing — what it is, why people do it, and how to know if it's worth considering for you.
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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 101
When does it make sense to refinance?
Refinancing isn't a one-size-fits-all move — it depends on your situation, how long you plan to stay in your home, and what rates look like compared to your current loan. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap into equity for home repairs or other goals. The key is understanding what you'd actually save after accounting for closing costs and how long you'd need to stay in the home to break even. Every borrower's math is different, and that's worth a real conversation. If you've been wondering whether now could be your moment, I'd love to walk through the numbers with you. Let's figure out if it pencils out for your goals. Give me a call or send a message — I can run through your specific situation in about 15 minutes.
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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
Patricia Nagler
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