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Mortgage Market Update
My Mortgage Company
Peter Alongi
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there,
One of the most common questions I get is whether now is a good time to refinance. The answer depends on more than just rates.
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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 (and when it doesn't)
Refinancing sounds like a one-size-fits-all solution, but the truth is more nuanced. It can lower your monthly payment, shorten your loan term, or switch you from an adjustable to a fixed rate—but only if the numbers work for your situation. The key is weighing the costs of refinancing against the long-term benefit. If you're planning to stay in your home for several more years, the math often favors it. But if you're thinking of moving soon, the upfront costs might not pencil out. I see borrowers make smarter decisions when they take time to understand their own timeline and goals first. That's where I come in—I can walk you through whether refinancing fits where you're headed. Let's talk through whether refinancing makes sense for you right now.
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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
Peter Alongi
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