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Mortgage Market Update
My Mortgage Company
Spencer Javier
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. Not every rate change calls for a refinance—sometimes it's the right move, sometimes it isn't. Here's what to consider.
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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 drop. The math has to work: you need to stay in your home long enough to recoup closing costs through lower monthly payments. If you're planning to move in a few years, refinancing might cost more than it saves. But if you're settled in and rates have shifted meaningfully, it's worth running the numbers. A refinance can also be smart if you want to shorten your loan term, switch from adjustable to fixed, or tap equity for home improvements. The key is understanding your actual break-even point, not just chasing a lower rate. I'm happy to walk through whether refinancing fits your situation. Reach out if you'd like to explore whether refinancing makes sense for your home and timeline.
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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
Spencer Javier
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