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Mortgage Market Update
My Mortgage Company
Sandra Elliott
Thursday, September 3, 2026
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Is refinancing right for you right now? |
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Hi there, I'm sharing some thoughts this week on one of the biggest decisions homeowners face: whether to refinance.
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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 101
When refinancing actually makes sense
Refinancing isn't always the right move—even when rates drop or your situation changes. The real question is whether the long-term benefit outweighs the upfront costs and the time you'll stay in your home. If you're planning to move in a few years, refinancing might not pencil out. But if you're settling in for the long haul, a refinance could meaningfully lower your monthly payment or help you build equity faster by shortening your loan term. The best time to explore it is when your financial picture has improved—better credit score, more equity, or a significant rate shift. I'd love to walk you through whether it makes sense for your specific situation. 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
Sandra Elliott
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