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Mortgage Market Update
My Mortgage Company
Barrett Marketing
Thursday, September 3, 2026
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Should you refinance right now? |
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Hi there. Rates shift, circumstances change, and sometimes homeowners wonder if it's time to make a move. Here's what you should know.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple—replace your old loan with a new one—but the real question is whether it actually saves you money. The math depends on a few things: how much longer you plan to stay in the home, what your current rate and loan balance are, and how rates have moved since you borrowed. Sometimes refinancing makes perfect sense. Other times, the closing costs and time involved mean you're better off staying put. I like to walk through the numbers with borrowers so they can see the true picture, not just the sales pitch. There's no one-size-fits-all answer, which is exactly why it's worth a conversation before you decide. Let's talk through whether refinancing could work 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
Barrett Marketing
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