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Mortgage Market Update
My Mortgage Company
Rico Singleton
Thursday, September 3, 2026
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Should you refinance? Here's how to know. |
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A lot of homeowners wonder if now is the time to refinance. The answer depends on your goals—not just the rate environment.
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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, even when rates look attractive. The real question is whether the benefit you'd gain outweighs the cost and time involved in the process. If you've built equity, improved your credit, or your financial situation has changed since you got your current loan, refinancing might lower your payment or shorten your timeline. But if you're planning to move in a few years, the savings may not justify closing costs. I help clients do the math on their specific situation—because a good refinance should make your financial life easier, not just look good on paper. If you're curious whether a refi pencils out for you, I'm happy to walk through 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
Rico Singleton
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