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Mortgage Market Update
My Mortgage Company
Dallas Rutherford
Thursday, September 3, 2026
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Your mortgage balance could unlock new options |
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Hi there. This week I want to focus on something homeowners often overlook when they're thinking about their loan.
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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 Strategy
When your loan balance matters more than the rate
A lot of borrowers focus on interest rates when they think about refinancing, but there's another number that deserves your attention: how much principal you still owe. If you've built equity in your home—especially if you've paid down a meaningful chunk of your mortgage—refinancing can work harder for you than you might expect. The loan balance affects how much you can borrow, what programs you qualify for, and how a refinance reshapes your financial picture over time. Even when rates aren't at historic lows, refinancing can make sense if your circumstances have changed: your credit has improved, you've paid down debt, or you want to adjust your loan term. The best move depends on your specific situation. I'd be happy to walk through what refinancing could look like for your home—no obligation.
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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
Dallas Rutherford
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