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Mortgage Market Update
My Mortgage Company
John Schaff
Thursday, September 3, 2026
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Should you refinance? Here's what to check first |
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Hi there. This week I'm breaking down one of the questions I hear most often: is now the time to refinance my mortgage?
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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 or your financial situation changes. The real question is whether the benefit you'll gain outweighs the cost and time involved in replacing your loan. Sometimes a small rate improvement or a shorter payoff timeline makes the math work. Other times, you're better off staying put and putting that energy elsewhere. The best way to know is to run the numbers with someone who understands your specific loan, timeline, and goals — not just the headlines. I'm happy to walk through whether refinancing could actually benefit you, or if your money is better spent elsewhere right now. Let's talk through your situation and see if refinancing fits your plan.
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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
John Schaff
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