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Mortgage Market Update
My Mortgage Company
StorBelow
Thursday, September 3, 2026
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Is refinancing worth it for you right now? |
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Hi there. This week I want to tackle a question I hear a lot: when should you actually consider refinancing your mortgage?
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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 a one-size-fits-all move, and it's not always the right choice. The real question isn't whether rates have moved—it's whether a new loan would actually improve your financial picture. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for a major expense or consolidate debt. The catch is that refinancing costs money upfront, so it only pays off if you stay in your home long enough to recoup those costs through savings or other benefits. That timeline is different for everyone depending on your goals and how long you plan to keep your mortgage. I'd love to walk through your specific situation—your current loan, your timeline, and what you're hoping to accomplish. Let's talk about whether refinancing could actually work in your favor. Reach out and we can review whether a refinance makes sense 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
StorBelow
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