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Mortgage Market Update
My Mortgage Company
Harris Nightingale (Old)
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Homeownership comes with decisions large and small. This week, I want to walk through one that comes up often: whether a refinance is worth pursuing.
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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 one-size-fits-all, and it's not always the right move. The core question is simple: will the new loan save you money over the time you plan to stay in your home? That means weighing your new rate and terms against what you're paying now, factoring in closing costs and how long you'll keep the loan. Sometimes refinancing makes sense to lower your rate or switch from adjustable to fixed. Other times—if you're selling soon or rates haven't moved much—it might not be worth the effort. The best way to know is to run the actual numbers on your specific situation, which is where I come in. 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
Harris Nightingale (Old)
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