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Mortgage Market Update
My Mortgage Company
Tim Colson
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there—this week I want to tackle a question I hear often: should I refinance my mortgage? The answer isn't one-size-fits-all, but I can help you figure out what's right for 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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Refinance Strategy
When does refinancing actually make sense?
A lot of homeowners wonder if refinancing is worth it, and the answer really depends on your situation. If rates have dropped since you got your mortgage, or if your financial picture has improved, refinancing might let you lower your payment, shorten your loan term, or switch from an adjustable to a fixed rate. But it's not automatic—you'll want to think through how long you plan to stay in the home and whether the savings justify the costs involved. The best way to know is to run the numbers with someone who understands your specific loan and goals. Let's talk about whether refinancing makes sense for your home and budget.
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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
Tim Colson
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