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Mortgage Market Update
My Mortgage Company
Pearl Cook | Edge Home Finance
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there—this week I want to cover a question I hear often: refinancing. It's easier to understand than you might think.
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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 it makes sense to refinance your mortgage
Refinancing isn't a one-size-fits-all move, but it's worth understanding when it might work in your favor. The most common reason people refinance is to lower their monthly payment or reduce the total interest paid over the life of the loan — but timing, your current loan terms, and how long you plan to stay in your home all matter. There are other reasons too: switching from an adjustable to a fixed rate for predictability, or tapping your equity for a major expense. The key is weighing the benefits against closing costs and the time it takes to break even. If you're wondering whether refinancing could improve your financial picture, I'd love to walk through the specifics with you. 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
Pearl Cook | Edge Home Finance
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