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Mortgage Market Update
My Mortgage Company
Joe Spears
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there — I wanted to touch base this week about a question I hear often from homeowners like 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 refinancing makes sense for your situation
A lot of homeowners wonder if refinancing is worth it, and the answer really depends on your specific numbers and goals. Some people refinance to lower their monthly payment, others to shorten their loan term or tap into equity for a major expense. The key is understanding what you're trying to accomplish and whether the costs involved align with your timeline. If you've owned your home for a few years, your credit situation has improved, or market conditions have shifted, it might be worth a conversation. I'm happy to walk through your options and show you what refinancing could look like for you — no obligation. Give me a call or send a message, and we can explore whether refinancing fits your plans.
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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
Joe Spears
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