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Mortgage Market Update
My Mortgage Company
Alan Gonzalez
Thursday, September 3, 2026
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Is your current mortgage still the right fit? |
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Hi there. Some weeks, I hear from homeowners who wonder if they should refinance but aren't sure where to start.
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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
Refinancing isn't one-size-fits-all, but it's worth understanding when it might work in your favor. The biggest reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. But there are costs involved—closing costs, appraisal fees, title work—so the math matters. If you're planning to stay in your home long enough to recoup those costs through savings, it can be a smart move. The best way to know if it makes sense for you is to run the numbers with someone who knows your specific loan and goals. If you're curious whether refinancing could help, I'd be happy to walk through your options with 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
Alan Gonzalez
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