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Mortgage Market Update
My Mortgage Company
Nicholas Smith
Thursday, September 3, 2026
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Should you refinance? Here's how to know. |
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Not all financial moves are created equal—even the ones that look smart on paper. This week, we're tackling one of the biggest decisions homeowners face.
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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 101
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your home value rises. The real question isn't whether you can refinance—it's whether the benefit outweighs the cost and time you'll stay in your home. A lower rate sounds great, but closing costs and a reset loan term matter. If you're planning to move in three years, the math might not work in your favor. On the flip side, if you're locked in for the long haul and your situation has improved—better credit, more equity, lower rates—it could genuinely save you money over time. The trick is running the real numbers for your specific scenario, not just chasing the headlines. I'd love to walk through whether refinancing makes sense for you right now. Let's talk through your refinancing options and see if the timing is right.
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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
Nicholas Smith
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