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Mortgage Market Update
My Mortgage Company
Joanne Hudson - Blank Account
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. I wanted to touch on a question I hear often: is this the right time to refinance? Let me break it down.
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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 right for everyone, and the right time depends on your situation. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others use it to tap into home equity for a big expense or consolidate debt. The catch: refinancing means a new application, appraisal, and closing costs—so the savings have to be worth it. That's why it's worth a conversation before you decide. I can walk you through whether it makes financial sense for you right now, what your options look like, and what the real timeline and costs would be. Let's talk about whether refinancing could work for your goals.
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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
Joanne Hudson - Blank Account
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