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Mortgage Market Update
My Mortgage Company
Carlos Munoz
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Not every financial opportunity is right for every homeowner. This week, I want to help you think clearly about whether refinancing is worth considering in your situation.
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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 (and when it doesn't)
Refinancing sounds like a big financial move, but it's really just replacing your current loan with a new one. People refinance for different reasons—some want to lower their monthly payment, others want to shorten their loan term or tap into home equity. The key is understanding what you're trying to accomplish. A lower rate might save you money over time, but closing costs matter too. That's why I always encourage folks to run the numbers before deciding. There's no one-size-fits-all answer, which is exactly why it pays to talk through your specific situation with someone who knows your loan inside and out. If you're curious whether refinancing could work for you, I'd be happy to walk through the details.
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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
Carlos Munoz
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