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Mortgage Market Update
My Mortgage Company
John Bohannon
Thursday, September 3, 2026
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When should you consider refinancing? |
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Hi there. This week I want to tackle a question I hear often: whether it makes sense to refinance a mortgage.
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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 does it make sense to refinance?
Refinancing isn't one-size-fits-all. Some borrowers benefit from lower rates or shorter loan terms. Others use it to tap equity for home improvements or debt consolidation. The key is understanding your own situation—how long you plan to stay in the home, what your current rate is, and what your goals are. If you're curious whether a refinance could work for you, I'm happy to walk through the numbers. It's a conversation worth having, even if you decide now isn't the right time. Let's talk about whether refinancing makes sense for your situation.
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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
John Bohannon
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