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Mortgage Market Update
My Mortgage Company
Simone Phillip
Thursday, September 3, 2026
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Should you refinance? Here's how to decide. |
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Sometimes the best financial move isn't obvious at first glance. This week I want to share a straightforward way to think about whether refinancing might be right for 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 Strategy
When it makes sense to refinance your mortgage
Refinancing isn't just about chasing lower rates—it's a tool worth reconsidering whenever your situation changes. Maybe you've built equity, improved your credit score, or your life circumstances have shifted. Sometimes refinancing shortens your loan term and builds wealth faster. Other times it makes sense to tap equity for a major expense or consolidate debt. The key is understanding what you're actually trying to accomplish, then running the numbers to see if the costs justify the benefits. I'd be happy to walk through your specific situation and show you whether refinancing could work in your favor right now. Let's talk about whether refinancing makes sense 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
Simone Phillip
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