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Mortgage Market Update
My Mortgage Company
Darryl Taylor
Thursday, September 3, 2026
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Should you refinance? Let's talk through it |
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Hi there. This week I want to tackle a question I hear often: when does refinancing actually make sense? Here's what you should know.
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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 for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The idea is simple: you replace your current mortgage with a new one, ideally on better terms. But "better" depends on your goals. Some people refinance to lower their monthly payment, others to shorten their loan term, and some to tap into home equity for a major expense. The catch is that refinancing comes with costs—application fees, appraisals, title work—so you want to make sure the benefit outweighs what you'll pay upfront. If you're wondering whether it could work for you, I'd love to walk through the numbers. Every situation is different, and there's no substitute for a real conversation about your goals and timeline. Reach out if you'd like to explore whether refinancing could help you 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
Darryl Taylor
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