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Mortgage Market Update
My Mortgage Company
Carlos Rivera
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there—I wanted to share some straight talk about refinancing this week. It can be a great tool, but only if the timing and math 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 sense (and when it doesn't)
Refinancing can be a smart move, but it's not right for everyone or every situation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. But refinancing also means closing costs and a new loan process, so it only pencils out if you plan to stay in your home long enough to recoup those expenses through savings. I always tell clients: run the math first. If you're curious whether refinancing could work for your specific situation—your rate, how long you might stay, what you might save—I'm happy to walk through it with you and show you what the numbers actually look like. Let me know if you'd like to explore whether refinancing makes sense for 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
Carlos Rivera
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