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Mortgage Market Update
My Mortgage Company
Steve Orloff
Thursday, September 3, 2026
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Should you refinance? It depends. |
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Hi there,
I'm sharing some straightforward guidance this week on a question I hear often: when does refinancing actually pay off?
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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 refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. I talk to people who are curious whether it's time to refinance their mortgage, and the answer depends on a few personal factors: how long you plan to stay in your home, your current loan terms, and what your goals are—whether that's lowering your monthly payment, shortening your loan term, or accessing equity for a major project. The math isn't always obvious upfront, which is why it helps to run the numbers with someone who knows your situation. If you've been wondering whether a refinance could work for you, I'm happy to walk through what it would look like. Reach out anytime—I can help you figure out if refinancing is worth exploring right now.
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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
Steve Orloff
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