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Mortgage Market Update
My Mortgage Company
Toby Gilchrist
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Not every financial move makes sense at every stage of homeownership. This week, I want to help you think clearly about one of the biggest decisions you might face.
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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 always the right move, even when rates drop or your situation changes. The real question is whether the benefits outweigh the costs and commitment involved. Sometimes staying put is smarter than starting over. I help borrowers think through this by looking at how long they plan to stay in the home, what their current loan costs, and what the new one would actually cost. There's no one-size-fits-all answer, but there are clear ways to run the numbers and see if it pencils out for you. If you've been wondering whether now is your moment to refinance, I'd like to walk through the specifics with you. Reach out and let's talk through whether refinancing fits your goals right now.
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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
Toby Gilchrist
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