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Mortgage Market Update
My Mortgage Company
American Mortgage
Thursday, September 3, 2026
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Should you refinance? Here's what to consider |
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Good morning. This week I want to tackle a question I hear a lot: when is refinancing actually a smart move?
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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 or your financial situation improves. The real question is whether the benefits you'll gain over time outweigh the costs of refinancing itself. A lower rate sounds great, but you'll want to understand how long it takes to break even, what your new payment would be, and whether you're staying in your home long enough to benefit. Sometimes refinancing to tap home equity for a major expense makes sense. Other times, staying put and building equity is the smarter path. The answer depends on your timeline, your goals, and your numbers. I'd love to walk through your specific situation and help you figure out whether refinancing is worth it for you right now. Let's talk through whether refinancing could work in your favor.
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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
American Mortgage
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