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Mortgage Market Update
My Mortgage Company
Austin Waters
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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There's a lot of confusion around refinancing—when to do it, whether it's worth it, and what actually changes. Let me break down the basics so you can make a clear decision.
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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 right for everyone, but it's worth understanding when it might work in your favor. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable to a fixed rate. The catch is that refinancing involves closing costs and a new application process, so you'll want to make sure the benefit outweighs what you'll spend upfront. Even small changes in rates or your financial picture can tip the math one way or the other. If you're wondering whether it could make sense for you, I'd be happy to walk through the numbers and help you figure out if it's worth exploring right now. Let's talk about whether refinancing could work for your home and budget.
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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
Austin Waters
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