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Mortgage Market Update
My Mortgage Company
Brendan McKiernan
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Hi there. This week I want to walk you through one of the questions I hear most often from homeowners—and one that deserves a straight answer instead of a sales pitch.
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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 right for everyone, and timing matters. The basic idea is simple: you replace your current loan with a new one, ideally on better terms. That might mean a lower rate, a shorter timeline to pay off your home, or switching from an adjustable to a fixed rate for stability. But refinancing involves closing costs and a new application process, so it only pencils out if the benefit outweighs what you'll spend. I help borrowers run the real numbers—not just "rates are lower" but whether you'll actually come out ahead given how long you plan to stay in your home. Every situation is different, and that's why it's worth a real conversation instead of guessing. Let's talk through whether refinancing could work for your situation—there's no obligation, just clarity.
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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
Brendan McKiernan
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