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Mortgage Market Update
My Mortgage Company
Derek Vail
Thursday, September 3, 2026
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Refi question: does it work for you? |
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Rates move, and when they do, I hear a lot of questions about refinancing. Here's what actually matters before you apply.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings over time outweigh what you'll pay upfront to close a new loan. I usually tell people to think beyond just the rate itself—look at your timeline. If you're planning to move or pay off the house in a few years, refinancing might cost more than it saves. But if you're staying put and can recoup those closing costs within a reasonable window, it could put real money back in your pocket long term. Every situation is different, which is why I'd rather talk through your specific goals than guess. Let's run the numbers for your situation—reach out and we can see if refinancing pencils out.
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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
Derek Vail
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