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Mortgage Market Update
My Mortgage Company
Joel Rodriguez
Thursday, September 3, 2026
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Could refinancing lower your payment? |
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Hi there. With rate movements happening regularly, it's natural to wonder whether your current mortgage is still the best fit.
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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
When refinancing makes financial sense
Refinancing isn't always the right move, but it can be powerful when the timing and your situation align. The main reason people refinance is to lower their monthly payment or shorten their loan term—but there are other reasons too, like locking in a fixed rate if you have an adjustable mortgage, or tapping equity for a major expense. Before you refinance, it's worth understanding what costs are involved and how long it takes to break even. Every situation is different, which is why I always encourage people to run the numbers with me before deciding. If you've been thinking about whether refinancing could work for you, let's talk through the specifics of your loan and goals. Reach out anytime—I'm happy to walk through whether a refinance makes sense 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
Joel Rodriguez
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