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Mortgage Market Update
My Mortgage Company
Steven Carey
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 tackle a question I hear often from homeowners thinking about their mortgage options.
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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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and whether a lower rate would meaningfully reduce your monthly payment or total interest. Some homeowners refinance to shorten their loan term, consolidate debt, or switch from adjustable to fixed rates—each has different pros and cons. If you're wondering whether it makes financial sense for your situation, I'd be glad to walk through the numbers with you and show you what the comparison actually looks like. Let's talk through whether refinancing could work for you.
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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
Steven Carey
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