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Mortgage Market Update
My Mortgage Company
Julie Gallegos
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Sometimes the smartest money move isn't obvious. This week I want to walk you through when refinancing might actually pay off 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 Basics
When refinancing makes sense for you
Refinancing isn't always the right move, but there are a few situations where it can meaningfully improve your financial picture. The most common reason is when rates have shifted enough that your monthly payment or loan terms could improve. But refinancing can also help if you want to shorten your loan timeline, switch from an adjustable to a fixed rate, or tap into your home's equity for a large expense. The key is weighing the costs of refinancing against the benefits you'd actually receive. I can walk you through the numbers specific to your loan and help you decide if it's worth pursuing right now. Let's talk about whether refinancing could work for 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
Julie Gallegos
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