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Mortgage Market Update
My Mortgage Company
Kristen Hordyk
Thursday, September 3, 2026
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Should you refinance? Let's do the math. |
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Interest rates move, and when they do, homeowners often wonder if it's time to refinance. But the answer isn't always yes — here's how to know.
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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 does refinancing actually make sense?
Refinancing sounds great in theory — lower rates, lower payments — but it only works if the math actually works for you. When rates drop, refinancing can save you real money over time. But there are closing costs to consider, and you need to know how long you plan to stay in your home to determine if you'll break even. Sometimes a rate drop of just a quarter or half percent isn't enough to justify the expense. The key is running the real numbers with your loan officer so you can see the timeline and decide if it's worth it for your situation. If you've been wondering whether refinancing makes sense for you, I'd be happy to walk through your numbers.
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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
Kristen Hordyk
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