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Mortgage Market Update
My Mortgage Company
Korosh Morsh's Account
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to talk about one of the most common questions I hear: when is the right time to refinance?
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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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Refinance Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the savings you'd gain over time outweigh the cost to refinance. If you're planning to stay in your home for several more years, the math often works in your favor. But if you might move or pay off the loan sooner, the break-even point matters—sometimes a lot. I always encourage homeowners to run the numbers before they decide. There's no one-size-fits-all answer, which is why talking through your specific situation with me can clarify whether refinancing is worth your time and money right now. Let's walk through whether refinancing makes sense 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
Korosh Morsh's Account
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