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Mortgage Market Update
My Mortgage Company
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Thursday, September 3, 2026
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Should you refinance your mortgage? |
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I'm always happy to chat about loans that might help you reach your financial goals. This week, I want to cover a question I hear often: refinancing.
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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 main reasons people refinance are to lower their monthly payment, shorten their loan term, tap into home equity for cash, or switch from an adjustable rate to a fixed one. The catch is that refinancing involves closing costs, so you want to make sure the math works for your timeline and goals. If you're thinking about it, I can walk you through whether a refinance pencils out based on how long you plan to stay in your home and what rates look like today. Let's talk through your refinancing options and see if now is the right move 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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