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Mortgage Market Update
My Mortgage Company
Daniel Skagen | Barrett Financial Group
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Hi there — this week I want to break down one of the questions I hear most often from homeowners like 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 Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The decision really comes down to your goals: are you trying to lower your monthly payment, shorten your loan term, tap into equity for a big expense, or switch from an adjustable to a fixed rate? Each reason has its own math. Sometimes the costs and timeline don't pencil out; other times, refinancing can be genuinely smart. The best way to know if it makes sense for you is to look at your specific loan, timeline, and what rates are doing. I'm happy to walk through the numbers with you and show you whether refinancing could actually benefit your situation. Let's talk through whether a refinance could work for you.
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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
Daniel Skagen | Barrett Financial Group
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