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Mortgage Market Update
My Mortgage Company
Ann Richardson
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there—I hope you're doing well. This week I want to walk you through one of the questions I hear most often from homeowners like you.
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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
Refinancing isn't right for everyone, but it's worth understanding when it might work for you. The main reasons people refinance are to lower their monthly payment, shorten their loan term, tap into home equity for cash, or switch from an adjustable to a fixed rate. Each scenario has different math behind it—and different costs to weigh. That's why I always recommend looking at the full picture: how long you plan to stay in your home, what you'd owe out of pocket, and what you'd save over time. If you've been curious about whether refinancing could help your situation, I'm happy to run the numbers with you. Reach out if you'd like to explore whether refinancing could work for your home loan.
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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
Ann Richardson
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