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Mortgage Market Update
My Mortgage Company
FLO Mortgage NMLS 1835856
Thursday, September 3, 2026
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Does refinancing actually pay off for you? |
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Hi there. This week I want to walk you through one of the most common questions I hear—when does it make sense to refinance, and when is it better to wait?
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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 isn't always the right move, even when rates drop. I talk to homeowners who refinance too often and end up paying more in fees than they save, or who reset their loan term and add years of payments back on. The real question isn't whether rates are lower—it's whether the math works for your situation. Your timeline matters. If you're planning to move in a few years, refinancing might never pay for itself. Your current loan term and how far along you are also make a difference. Before you jump, we should run the actual numbers together: what you'd save monthly versus what closing costs would be, and how long it takes to break even. That's when refinancing becomes a genuine financial win instead of just an interesting idea. If you're curious whether refinancing makes sense for your loan, let's talk through it.
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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
FLO Mortgage NMLS 1835856
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