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Mortgage Market Update
My Mortgage Company
Brent Powell
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to clear up some confusion around refinancing—because the decision isn't one-size-fits-all.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and whether a new rate actually improves your monthly payment or total interest. Some people refinance to shorten their loan term, others to tap equity for a major project, and some to drop an adjustable rate for stability. The key is understanding your own situation before you apply. I can walk you through the numbers specific to your loan and help you figure out whether refinancing would genuinely benefit you, or if staying put makes more sense. 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
Brent Powell
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