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Mortgage Market Update
Egan O'Brien
Thursday, September 3, 2026
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Is refinancing worth a closer look right now? |
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Hi there—this week I want to cover a topic that comes up a lot: when and why homeowners choose to refinance. Whether you're just curious or seriously considering it, here's what you should know.
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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 one-size-fits-all, and it's not always the right move. The decision really comes down to your personal goals—whether you want to lower your monthly payment, shorten your loan term, tap into equity for a large expense, or lock in a better rate. Some borrowers benefit right away; others find the timing isn't right yet. What matters most is understanding your own numbers and circumstances. If you've been curious about whether refinancing could work for you, I'd love to walk through the basics and help you think it through. There's no pressure—just clarity. Reach out anytime if you'd like to explore whether refinancing could fit your plans.
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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 Egan O'Brien team any time and we'll walk you through your options. |
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