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Mortgage Market Update
My Mortgage Company
Jeremy Coccimiglio
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to tackle a question I hear often: when should a homeowner actually consider refinancing?
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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. The real question is whether your savings over time will outweigh the cost of closing a new loan. Some people refinance to lower their rate or monthly payment. Others use it to shorten their loan term, or to tap into home equity for a major expense. But if you're planning to sell or move soon, refinancing fees might eat up any benefit. That's why it pays to do the math first and talk through your actual timeline and goals—not just chase the lowest rate you see advertised. If you're wondering whether refinancing could work for your situation, I'd be happy to walk through the numbers with 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
Jeremy Coccimiglio
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