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Mortgage Market Update
My Mortgage Company
Mckell Mendenhall
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi everyone—I wanted to take a step back this week and talk about one of the most common questions I hear: should I refinance? The answer is rarely simple, and it's worth getting right.
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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 Strategy
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 long-term savings justify the upfront costs and the reset of your loan timeline. If you're early in your mortgage, you might need rates to drop more than someone who's already built years of equity. And if you're planning to move or pay off your home soon, refinancing might not pencil out at all. That said, if you've improved your credit since you bought, or if your financial picture has changed in a positive way, refinancing could unlock better terms. The best way to know is to run the real numbers specific to your situation—not guesses or assumptions. I'm happy to walk through the math with you and show you whether a refi actually makes sense. Reach out if you'd like to explore whether refinancing could work for your situation.
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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
Mckell Mendenhall
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