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Mortgage Market Update
My Mortgage Company
ReAnn Gonzalez and Team
Thursday, September 3, 2026
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When does refinancing actually pay off? |
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Hi there,
This week I want to clear up some confusion I hear often about refinancing. It's not a one-size-fits-all solution, and that's exactly what we should discuss.
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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 or your situation changes. The key is understanding what you're trying to accomplish. Some people refinance to lower their monthly payment, others to shorten their loan term or tap into equity for a major expense. Each goal has different math behind it, and sometimes the costs of refinancing outweigh the benefit. The best time to explore it is when something in your life or the market actually changes—a rate shift, a credit score improvement, a jump in home value, or a change in your timeline. If you're wondering whether it makes sense for you right now, I'm happy to walk through your specific situation and show you the real numbers. There's no obligation, and clarity is always worth a conversation. Reach out anytime you'd like to talk through whether refinancing could 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
ReAnn Gonzalez and Team
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