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Mortgage Market Update
My Mortgage Company
Randy Nederman
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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A lot of homeowners wonder if refinancing is worth it. Let's talk through what actually matters when you're considering it.
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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—even when rates shift. The real question is whether the benefits outweigh your costs and timeline. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for home improvements or consolidate debt. But refinancing involves closing costs and a new application process, so it only pays off if you plan to stay in the home long enough to recoup those expenses. That math is different for everyone, which is why it's worth running the numbers on your specific loan before making a decision. If you're curious whether refinancing could work for you, I'd be happy to walk through the details.
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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
Randy Nederman
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