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Mortgage Market Update
My Mortgage Company
Brad Payne
Thursday, September 3, 2026
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Should you refinance? Let's find out |
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Some of you own homes and are wondering if now is the right time to make a move. This week I want to talk about refinancing—what it really means and when it might work in your favor.
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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 financial sense
Refinancing isn't right for everyone, but it can be a smart move if your situation has changed. Maybe rates have moved favorably, your credit has improved, or you want to adjust your loan term. The key is understanding what refinancing actually costs—closing costs, appraisal fees, and time—and weighing that against the benefit you'd gain. Sometimes the math works out beautifully. Sometimes it doesn't, and that's okay to know upfront. I can walk you through the numbers specific to your loan and help you figure out whether it makes sense for your household right now. If you're curious about your options, reach out and we can run the numbers together.
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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
Brad Payne
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