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Mortgage Market Update
My Mortgage Company
Daniel DePascal
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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I get questions every week about whether someone's mortgage is working for them anymore. Here's what you should know before deciding.
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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 one-size-fits-all, but it's worth understanding when it could work in your favor. The most common reason people refinance is to lower their monthly payment—either by getting a better rate or extending the loan term. But refinancing can also help you cash out equity for home repairs, consolidate debt, or switch from an adjustable rate to a fixed one for peace of mind. The tradeoff is closing costs and starting your loan clock over, so the math only works if you plan to stay in your home long enough to recoup those upfront expenses. I'm happy to walk through whether it makes sense for your situation and what the real numbers would look like. Reach out and we can 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
Daniel DePascal
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