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Mortgage Market Update
My Mortgage Company
Armando Cornejo
Thursday, September 3, 2026
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Should you consider refinancing your mortgage? |
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I know rates and loan options can feel overwhelming. This week, I want to break down one of the most common questions I hear from homeowners.
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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 your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The idea is simple: you replace your current mortgage with a new one, ideally on better terms. But "better" depends on your goals. Some people refinance to lower their monthly payment, others to shorten their loan term and build equity faster, and some to tap into home equity for a major expense. Before you decide, think about how long you plan to stay in your home and whether the savings justify the closing costs. I'm happy to walk through the numbers specific to your loan and show you what different scenarios might look like. Let's talk about whether refinancing could work for you—reach out anytime.
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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
Armando Cornejo
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