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Mortgage Market Update
Max Lloyd
Max Lloyd
Thursday, September 3, 2026
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Refinancing: when it actually pays off |
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Refinancing gets a lot of buzz, but it's not a one-size-fits-all answer. This week I'm breaking down how to figure out if it's the right move 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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Refinancing Strategy
Should you refinance? Here's how to decide.
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings outweigh your costs—and that depends on your situation. If you're planning to stay in your home for several years, a refinance might lower your payment or shorten your loan term. But if you're thinking of selling or moving soon, the closing costs may not make financial sense. I help borrowers run the numbers so you can make this decision with confidence, not guesswork.
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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 Max Lloyd team any time and we'll walk you through your options. |
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