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Mortgage Market Update
My Mortgage Company
My Home Mortgage Pros
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Not every rate drop means you should refinance. This week I want to share the real test that tells you whether it makes sense for you.
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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 isn't always the right move, even when rates drop. The main reason people refinance is to lower their monthly payment or shorten their loan term, but there are real costs involved—closing costs, appraisals, title work. That's why it only makes financial sense if you'll stay in the home long enough to recoup those costs through your savings. If you're planning to move in a few years, refinancing might not pencil out. But if you're settled in and rates have moved favorably, it could be worth exploring. The best way to know is to run the actual numbers for your specific situation. I'm happy to walk through the math with you. Reach out if you'd like me to review whether refinancing could work for your home and timeline.
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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
My Home Mortgage Pros
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