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Mortgage Market Update
My Mortgage Company
Kevin Flannery
Thursday, September 3, 2026
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Should you refinance right now? |
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Hi there. With rates shifting, refinancing questions come up a lot. Here's what I want you to know about deciding whether it's the right move for you.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether your new loan will save you money over time—and that depends on how long you plan to stay in your home, what you owe now, and what the new terms would be. Sometimes a lower rate sounds great until you factor in closing costs and reset your loan timeline. Other times, pulling out equity through a cash-out refi can help with high-interest debt or home improvements, but it changes your payoff date and total interest paid. I walk borrowers through these trade-offs regularly, and the answer is always personal to your situation. If you've been wondering whether a refi could work for you, let's talk through the numbers together. Reach out anytime—there's no obligation to run through your refinance scenario.
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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
Kevin Flannery
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