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Mortgage Market Update
My Mortgage Company
Anthony Rice
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. I want to tackle a question that comes up often, and the answer might surprise 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 does refinancing actually make sense?
I get asked this a lot, and the answer isn't always obvious. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it only works in your favor when the benefit outweighs the cost of the refinance itself. The math depends on how long you plan to stay in your home, what rates look like today versus your current loan, and your personal financial goals. There's no one-size-fits-all answer, which is why it's worth a real conversation. If you've been thinking about it, I'm happy to walk through whether it pencils out for you. Let's talk through your refinance options and see if it makes sense 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
Anthony Rice
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