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Mortgage Market Update
My Mortgage Company
Shawn Howard
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. Each week I share what's on my mind about mortgages and homeownership—things I think matter to 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 for your situation
Refinancing isn't one-size-fits-all, but it's worth understanding when it could work in your favor. The most common reason people refinance is to lower their monthly payment or shorten their loan term when market conditions improve. But refinancing also lets you tap into home equity for major expenses, switch from an adjustable to a fixed rate for stability, or consolidate debt. The trade-off is that you're starting a new loan, so it takes time to recoup closing costs through savings. That's why timing and your personal goals matter more than any single rate movement. If you're wondering whether refinancing could benefit you right now, I'm happy to walk through the numbers specific to your loan and situation. Reach out if you'd like to explore whether refinancing might be a good fit 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
Shawn Howard
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