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Mortgage Market Update
My Mortgage Company
Erika Ortiz
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance? Let me break down what actually matters in that decision.
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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 refinancing actually makes sense
A lot of homeowners ask me whether they should refinance, and the answer really depends on your situation. If rates have moved favorably since you closed, or if your credit has improved, refinancing might lower your payment or shorten your loan term. But it's not automatic—closing costs matter, and you want to make sure the savings justify the process. The best time to explore it is when something in your financial picture has genuinely changed: a rate shift, a credit boost, or a long-term goal you're now ready to tackle. If you're wondering whether the numbers work in your favor right now, I'd be happy to walk through it with you. Let me know if you'd like to talk through whether a refinance could help your situation.
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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
Erika Ortiz
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