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Mortgage Market Update
My Mortgage Company
Timothy Peterson
Thursday, September 3, 2026
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Should you refinance? The real math behind it |
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Refinancing feels like it should always be worth doing when rates move favorably. But the answer is more nuanced than that.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the monthly savings will outweigh what you'll pay in closing costs and how long you plan to stay in your home. Some borrowers break even in a few months; others take years. It also depends on your current loan terms, how much equity you have, and what you're trying to accomplish—lower payment, shorter timeline, or cash out for a project. If you've been wondering whether it's worth a conversation, I'm happy to run the numbers with you and show you what refinancing would actually cost versus save. Let's talk through whether refinancing makes financial sense 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
Timothy Peterson
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