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Mortgage Market Update
My Mortgage Company
Elle Zimmerman
Thursday, September 3, 2026
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Should you refinance? Here's how to decide |
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Markets shift, life changes, and sometimes your mortgage needs a second look. This week I want to cover when refinancing 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 Basics
When refinancing makes sense
Refinancing isn't one-size-fits-all, and it's not always the right move. The key is understanding why you'd refinance in the first place. Some people do it to lower their monthly payment when rates drop. Others refinance to shorten their loan term, build equity faster, or tap into home equity for a major expense. Each path has different costs and benefits, which is why it pays to look at your specific situation before committing. If you've been wondering whether refinancing could work for you, I'd love to walk through the numbers and timing together. Let's talk about whether refinancing fits your goals right now.
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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
Elle Zimmerman
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