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Mortgage Market Update
My Mortgage Company
Ken Schmidt
Thursday, September 3, 2026
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Should you be thinking about refinancing? |
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Markets shift, and sometimes borrowers wonder if now's the time to make a move. This week, I want to walk you through how to decide.
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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 numbers work for you. Some borrowers benefit from a lower rate or shorter loan term; others are better off staying put. The key is looking at your timeline: if you plan to move or pay off your home soon, refinancing costs may outweigh any savings. I always recommend running the math on your specific loan, not just chasing headlines about rates. That's where a conversation with me helps—we can look at what refinancing would actually cost you and whether it pencils out. Let's talk through whether refinancing makes sense for your situation right now.
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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
Ken Schmidt
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