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Mortgage Market Update
My Mortgage Company
Elisa Ryken
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Hi there — I want to tackle a decision that comes up for a lot of homeowners: whether a refinance makes sense right now. Let me break down the real factors that matter.
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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 101
When does refinancing actually make sense?
I get asked this question a lot, and the answer depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity — but it's not automatic profit. You'll want to think about how long you plan to stay in your home, what your current rate is compared to where rates are today, and what closing costs would be. Sometimes the math works beautifully; sometimes you're better off staying put. The best move is different for everyone, and that's why it's worth a conversation rather than a guess. If you're curious whether refinancing could work for you, I'm happy to run 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
Elisa Ryken
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