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Mortgage Market Update
My Mortgage Company
Wes Eagles's Account (For Deletion)
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to talk about one of the most common questions I get: is now a good time to refinance?
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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 refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings you'd get over time outweigh the closing costs and time investment of applying. Some people benefit right away; others break even in a few years. The math depends on your loan balance, how long you plan to stay in the home, your credit profile, and current market conditions. That's why it helps to talk through the numbers with someone who can run the actual calculation for your situation—not a generic online calculator. If you've been curious whether refinancing could work for you, I'm happy to walk through what it would look like. Reach out anytime you'd like to explore whether refinancing makes sense for your home.
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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
Wes Eagles's Account (For Deletion)
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