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Mortgage Market Update
My Mortgage Company
Miguel Morales
Thursday, September 3, 2026
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Should you refinance? Here's how to tell |
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Interest rates and your personal finances don't stay frozen in time. Sometimes that's a signal to explore a refinance.
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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 real question is whether the benefits of a new loan outweigh the costs and time it takes to close. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or switch from an adjustable rate to a fixed one. Your break-even point—how long it takes for savings to cover closing costs—matters more than chasing rates alone. Even small changes in your financial picture, your credit, or market conditions can shift whether refinancing pencils out for you personally. If you're wondering whether refinancing could work for you, I'm happy to walk through your options.
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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
Miguel Morales
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