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Mortgage Market Update
My Mortgage Company
Appreciated Asset
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there — this week I want to tackle a question I hear often: is now a good time to refinance? The answer depends on more than just interest 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 a refinance actually makes sense
A lot of homeowners think about refinancing when rates drop, but that's only part of the equation. The real question is whether the monthly savings justify the costs and time involved in a new loan. If you've built equity, improved your credit, or your situation has changed since you bought, refinancing might work in your favor — but it's not automatic. I always recommend doing the math first: how long do you plan to stay in your home? What will your new payment be, and how much will closing costs run? Sometimes staying put is the smarter move. Let's talk through your specific situation and see if it pencils out. If you're curious whether a refinance makes sense for you, I'd be happy to walk through the numbers.
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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
Appreciated Asset
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