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Mortgage Market Update
My Mortgage Company
Megan Cox
Thursday, September 3, 2026
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Should you refinance? Let's do the math |
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It's easy to wonder whether refinancing is right for you—especially when rates shift or your financial goals change. Here's what you should consider before deciding.
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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 does it make sense to refinance your mortgage?
Refinancing isn't a one-size-fits-all decision. Some borrowers benefit when rates drop significantly, while others find value in switching loan terms—say, from a 30-year to a 15-year mortgage to build equity faster. The key is looking at your whole financial picture: how long you plan to stay in your home, your current loan balance, and what you'd actually save after closing costs are factored in. If you've been meaning to run the numbers but haven't, now's a good time to have that conversation. I can walk you through the math specific to your situation and help you decide if a refinance makes sense right now. Let's sit down and see if 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
Megan Cox
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