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Mortgage Market Update
My Mortgage Company
Rich Hanlin
Thursday, September 3, 2026
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Should you refinance? Here's how to know |
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Hi there. One of the smartest moves a homeowner can make is knowing when to refinance — and when to hold steady.
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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 Strategy
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 monthly savings outweigh the costs and time involved. If you're planning to stay in your home long enough to break even on closing costs, refinancing can lower your payment or shorten your loan term. But if you're thinking about selling in a few years, the math might not work in your favor. The best time to explore this is when rates have moved meaningfully from where you locked in, and your credit and income are solid. I can run the numbers with you — it takes just a few minutes to know if it's worth your while. Let's talk through whether refinancing fits your situation right now.
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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
Rich Hanlin
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