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Mortgage Market Update
Desiree Tyquiengco
Desiree Tyquiengco
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to tackle a question I hear often: when is refinancing actually worth it? It's more nuanced than just looking at rates.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit of a lower payment or shorter loan term justifies the costs and time involved. Some borrowers benefit within months; others need years to break even. Your loan officer and I can walk through the math specific to your situation—comparing your current rate, remaining balance, new rate, and closing costs. It's different for everyone. If you've been curious whether refinancing could work for you, or if you've refinanced before and want to know if it's worth doing again, let's talk. We'll be honest about whether it makes sense. Reach out and I'll run the numbers 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 Desiree Tyquiengco team any time and we'll walk you through your options. |
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