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Mortgage Market Update
My Mortgage Company
Stacey Elshehaby
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to clear up some confusion around refinancing—when it's worth doing and when it might not be.
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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. The real question isn't whether rates have dropped—it's whether a new loan makes financial sense for your situation. Some people benefit from refinancing to a shorter term and building equity faster. Others need to lower their monthly payment to free up cash flow. A few refinance to tap equity for a major expense. The key is understanding your own goals first, then looking at whether the numbers support the change. I'm happy to walk through what refinancing could look like for you, no pressure or obligation. Let's talk about whether refinancing is worth exploring for your home.
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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
Stacey Elshehaby
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