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Mortgage Market Update
My Mortgage Company
Peter Spinella
Thursday, September 3, 2026
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Should you think about refinancing? |
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I get a lot of questions about when to refinance—and for good reason. It's one of the biggest financial moves you can make as a homeowner.
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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 Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. But if your financial picture has changed—better credit, higher home value, or different life goals—it might be worth a conversation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, tap home equity for a big expense, or move out of an adjustable rate into something stable. Each has trade-offs, and the math depends on how long you plan to stay in your home. I'd rather help you think through whether it makes sense for you than push you toward something that doesn't. Let's talk about your goals and see if it's the right timing. Reach out if you'd like to explore what refinancing could look like in 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
Peter Spinella
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