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Mortgage Market Update
My Mortgage Company
OMG Rentals
Thursday, September 3, 2026
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Does it make sense to refinance right now? |
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A lot of homeowners think about refinancing at some point. This week I want to cover the basics of when and why it actually works.
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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. The idea is simple — replace your current loan with a new one — but whether it pencils out depends on your goals, how long you plan to stay in your home, and what the market looks like right now. Some people refinance to lower their monthly payment or shorten their loan term. Others tap equity to cover major expenses. The catch is that refinancing comes with costs, so you want to make sure the benefit outweighs what you'll pay. If you've been wondering whether it might work for you, I'm happy to walk through the numbers and show you what different scenarios could look like. Let's talk about whether refinancing could work in your favor — reach out anytime.
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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
OMG Rentals
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