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Mortgage Market Update
My Mortgage Company
Shantian Simmons's Account
Thursday, September 3, 2026
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Should you refinance? A simple question to ask |
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Hi there. Every homeowner's situation changes over time—and sometimes your mortgage can change too.
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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 staying put costs you money
I talk to homeowners all the time who are sitting on loans from years ago—and they don't realize how much their circumstances have changed. Maybe your credit has improved. Maybe rates have shifted. Maybe you've built equity faster than you expected. Any of these can open doors to better terms, lower payments, or shorter loan periods. The tricky part is knowing whether refinancing makes sense for *your* situation right now. It's not always the right move, but when it is, the savings can be real. If you've been in your home a few years or more, it's worth having a straightforward conversation about whether refinancing deserves a closer look. Reach out and let's talk through whether a refinance might work in your favor.
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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
Shantian Simmons's Account
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