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Mortgage Market Update
My Mortgage Company
Elite Lending Team
Thursday, September 3, 2026
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Should you refinance? Let's talk |
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Hi there. This week I want to cover a question I hear often: when does refinancing actually make sense?
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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 101
When it makes sense to refinance your mortgage
Refinancing isn't one-size-fits-all, and it's not always the right move. The basic idea is straightforward: you replace your current loan with a new one, ideally on better terms. But "better" means different things depending on your situation. Some people refinance to lower their rate and monthly payment. Others refinance to shorten their loan term, or to tap into home equity for a major expense. The catch is that refinancing comes with costs, so you want to make sure the benefit outweighs what you'll pay. That's where it pays to talk through your specific numbers and goals with someone who knows your financial picture. I'd love to walk you through whether refinancing could work for you. Reach out anytime if you'd like to explore what refinancing might look like for your home.
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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
Elite Lending Team
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