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Mortgage Market Update
My Mortgage Company
Linda Shinpaugh - Your Hometown Lender
Thursday, September 3, 2026
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Thinking about refinancing? Here's what to consider |
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Hi there. Rates move, and so do life circumstances—sometimes a refi is smart, sometimes it's not worth it. Let's talk about when it actually pencils out.
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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 shift. It makes the most sense when your monthly payment savings outweigh the closing costs you'd pay upfront—and when you plan to stay in your home long enough to recoup that investment. The break-even point varies depending on your loan amount, current rate, new rate, and local costs. Some people benefit in a few years; others need much longer. It's also worth considering whether you want to reset your loan term (which affects how much interest you pay over the life of the loan) or cash out equity for home repairs, education, or debt payoff. The math isn't always obvious, which is why I'm here to walk through it with you. Let's run the numbers together and see if refinancing could work for your situation.
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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
Linda Shinpaugh - Your Hometown Lender
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