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Mortgage Market Update
My Mortgage Company
Jim Booher
Thursday, September 3, 2026
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Should you refinance right now? |
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Hi there. I've had several questions lately about whether now is a good time to refinance. Let me walk you through how to think about it.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings will outweigh what you'll pay in closing costs and start-up fees. Some borrowers benefit in months; others need years for the math to work in their favor. It depends on your loan amount, how long you plan to stay in the home, and the gap between your current rate and what's available now. I always recommend we run the actual numbers together—no guesswork, no pressure. If refinancing could genuinely improve your situation, you'll see it clearly. If it doesn't make sense yet, I'll tell you that too. Let's run a quick refinance analysis and see what the numbers show.
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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
Jim Booher
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