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Mortgage Market Update
My Mortgage Company
Anna Lim Real Estate
Thursday, September 3, 2026
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Should you refinance? Here's how to tell |
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Hi there. This week I want to share some thoughts on refinancing—when it makes sense and when it doesn't.
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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 makes sense for your situation
Refinancing isn't right for everyone, but it can be a smart move if your circumstances have shifted. Maybe your credit score has improved since you bought, your home has gained value, or rates have moved in a direction that changes your math. The key is understanding what you'd actually save after accounting for closing costs and how long you plan to stay in your home. Some people refinance to shorten their loan term, others to access equity for repairs or education. I find that borrowers who run the numbers first—not just chase headlines—make the best decisions. If you're wondering whether it's worth exploring for your situation, I'm happy to walk through the specifics with you. Let's talk through whether refinancing could work for you.
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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
Anna Lim Real Estate
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