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Mortgage Market Update
My Mortgage Company
Eric Swenson
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there — I'm sending along some thoughts this week on a topic I hear about often: refinancing. Whether it makes sense depends on your goals and circumstances.
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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, but it's worth understanding when it might work for you. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable to a fixed rate. Each has real benefits — but also trade-offs. Lower payments sound great, but extending your loan might cost more interest overall. A shorter term builds equity faster but raises your monthly obligation. Before you jump in, I'd look at how long you plan to stay in your home and whether your current situation still fits your life. I'm here to walk through the numbers with you and help you see if a refinance makes financial sense. Let's talk about whether refinancing could work for your loan — reach out and we can review your options together.
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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
Eric Swenson
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