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Mortgage Market Update
My Mortgage Company
Joe Gallo
Thursday, September 3, 2026
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Should you refinance? Let's run the numbers |
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Hi there—this week I want to walk through one of the most common questions I hear from borrowers: whether it's actually worth refinancing right now.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings over time outweigh what you'll pay to refinance. Some people break even in just a couple of years; others need much longer. That depends on your rate improvement, how long you plan to stay in your home, and your closing costs. I help clients run the real numbers so there's no guessing. If you've been curious whether refinancing could actually benefit you—not just theoretically, but in your specific situation—I'd rather spend 15 minutes on a real conversation than have you wonder. Let's talk through what makes sense for your loan. Reach out anytime you'd like a straightforward look at whether refinancing pencils out 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
Joe Gallo
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