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Mortgage Market Update
My Mortgage Company
Eric Smart
Thursday, September 3, 2026
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Should you refinance? Let's find out. |
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Sometimes the best financial move isn't obvious from the outside. This week I want to walk you through how to think about refinancing — and when it actually makes sense.
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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 it makes sense to refinance your mortgage
Refinancing isn't a one-size-fits-all move, and it's not always about chasing the lowest rate. Sometimes it makes sense to refinance to shorten your loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. Other times, the costs don't justify the benefit. The key is understanding your own situation: how long you plan to stay in the home, what your current rate and term are, and whether the math works for your goals. I help borrowers run these numbers all the time, and the answer is usually clearer than people think. If you've been wondering whether refinancing could work for you, let's talk through it together. Reach out and we can explore whether refinancing aligns with your plans.
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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 Smart
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