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Mortgage Market Update
My Mortgage Company
Justin Schnettler
Thursday, September 3, 2026
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Should you refinance? Here's how to know |
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Hi there — this week I want to walk through one of the most common questions I hear: whether refinancing is worth it right now.
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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 sounds simple — swap your old loan for a new one — but the real question is whether it pencils out for your situation. Maybe rates have dropped and you want to lower your monthly payment. Maybe you've built equity and want to tap it for a home project. Or maybe your credit has improved since you bought, and you qualify for better terms now. The catch is that refinancing costs money upfront, so you need to stay in the home long enough for the savings to outweigh those costs. I help borrowers run the actual numbers so they can see if a refi makes financial sense or if waiting makes more sense. It's not always a yes, and that's okay. Let's talk through your situation and see if refinancing 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
Justin Schnettler
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