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Mortgage Market Update
My Mortgage Company
Ron Gardiner
Thursday, September 3, 2026
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Should you refinance? Let's find out. |
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Hi there. This week I want to talk about one of the most common questions I hear: when is refinancing actually a smart move?
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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 or your situation changes. The real question is whether the savings you'll earn over time outweigh what you'll pay to close a new loan. Sometimes staying put is smarter than starting over. A few reasons people refinance: locking in a lower rate, shortening their loan term, switching from adjustable to fixed, or tapping equity for a major expense. But there are costs involved, and it takes time to recoup them. That's why it's worth sitting down and running the actual numbers—not just assuming a refi is worth doing. I'm happy to walk through the math with you and help you see what makes sense for your specific situation. Reach out anytime you're curious whether refinancing could work for you.
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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
Ron Gardiner
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