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Mortgage Market Update
My Mortgage Company
Teena Broumand
Thursday, September 3, 2026
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Does refinancing work for you? |
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Hi there — this week I want to tackle a question I hear a lot: when should you actually refinance your home loan?
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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 isn't always the right move, even when rates look attractive. The key is understanding your own situation — how long you plan to stay in your home, what your current rate and loan balance are, and what closing costs would be. Sometimes refinancing saves you thousands over time. Other times, you'd break even in five years or more, which may not pencil out if you're thinking of moving sooner. The best approach is to run the math specific to your loan, not just chase headlines about rates moving. I'm happy to walk through whether refinancing could actually benefit you, or if staying put makes more sense right now. Let's talk through whether a refinance is worth it for your situation.
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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
Teena Broumand
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