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Mortgage Market Update
My Mortgage Company
David Schindel
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. I've been getting a lot of questions about refinancing lately, so I wanted to share some clear thinking on 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 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 over time outweigh the costs of the new loan. If you're planning to stay in your home for several more years, a refi might make sense. But if you're thinking about moving or selling in the next few years, the math often doesn't work in your favor. I've also found that borrowers sometimes refinance just because rates dropped a little — without actually running the numbers. That's worth avoiding. The best approach is to look at your specific situation: your current loan balance, how long you plan to keep the home, and what your new payment and costs would be. That's where a real conversation helps. Let's talk through your options and see if refinancing fits your plan. Reach out anytime you'd like to explore whether refinancing 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
David Schindel
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