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Mortgage Market Update
My Mortgage Company
Kevin Fugit
Thursday, September 3, 2026
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Should you refinance this month? |
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Hi there. Each week I share real insights that can help you make smarter decisions about your home and your mortgage.
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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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Smart Money Moves
What to do when rates drop
When mortgage rates move lower, homeowners often face a choice: refinance to a new loan, or stay put. The right answer depends on your situation—how long you plan to stay in your home, what your current rate and balance are, and whether the monthly savings justify any costs involved. I've seen borrowers benefit enormously from refinancing at the right time, but I've also seen others make moves they later regretted because they didn't think it through. The key is understanding your own numbers and timeline, not just chasing a headline rate. If you're curious whether a rate move might work in your favor, I'd love to run some scenarios with you. Let's talk through whether now 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
Kevin Fugit
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