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Mortgage Market Update
My Mortgage Company
Justin Connolly
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. Markets shift, life changes, and sometimes your mortgage needs a fresh look.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move—it depends on your situation. Some folks lower their monthly payment or shorten their loan term. Others tap into home equity for a major expense. The catch: refinancing means a new loan with closing costs, a new payment timeline, and a credit inquiry. That's why it makes sense to run the numbers first. How long do you plan to stay in the home? What are rates doing compared to your current rate? What's the cost to refinance versus the monthly savings? I help borrowers answer these questions so the decision feels clear, not rushed. Let's talk through whether refinancing makes sense for your home and goals.
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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
Justin Connolly
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