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Mortgage Market Update
My Mortgage Company
Jessica DeMott
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to touch on a question I hear often: should I refinance my home loan?
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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 right for everyone, but it can be a smart move if your circumstances have changed. Maybe your credit score has improved since you bought, or you'd like to shorten your loan term. Maybe you're carrying a higher rate than what's available now, or you want to tap into your home's equity for a major expense. The key is understanding your own goals—lower monthly payment, less time paying interest, or access to cash—and running the numbers to see if the benefits outweigh the costs involved. I'm here to walk you through the specifics of your situation and help you decide if it's worth exploring. Let's talk about whether refinancing could work 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
Jessica DeMott
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