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Mortgage Market Update
Brent Tye
Brent Tye's Account
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. Sometimes the smartest financial move is knowing when *not* to take action. This week, I want to break down when refinancing is worth the effort—and when it's better to leave things alone.
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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 look appealing. The real question is whether the long-term benefit outweighs your costs to refinance—things like appraisal fees, title work, and processing. Sometimes staying put is smarter, especially if you're close to paying off your loan or plan to move soon. But if you've built solid equity, improved your credit since you bought, or want to shorten your loan term, refinancing could put real money back in your pocket over time. The key is running the actual numbers for your specific situation, not just chasing rates. I'm happy to walk through whether it pencils out for you. Reach out and we can look at whether refinancing makes sense in your case.
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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 Brent Tye team any time and we'll walk you through your options. |
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