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Mortgage Market Update
My Mortgage Company
Gerardo Marin
Thursday, September 3, 2026
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Does refinancing make sense for you right now? |
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Hi there — this week I want to walk you through one of the most common questions I get from homeowners.
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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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Smart Refinancing
When refinancing makes financial sense
Refinancing isn't right for everyone, but it can be a smart move if your situation has changed. Lower rates, a shorter loan term, moving from an adjustable to a fixed rate, or tapping equity for a major expense — these are all reasons homeowners refinance. The key is understanding your break-even point: how long it takes for your monthly savings to cover closing costs. If you're staying in your home long enough to reach that point, refinancing might be worth exploring. Every person's math is different, which is why it pays to run the numbers with someone who knows your full financial picture. Let's talk through whether refinancing could work for your situation.
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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
Gerardo Marin
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