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Mortgage Market Update
My Mortgage Company
Nancy Sandoval
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to walk you through one of the biggest questions I hear from homeowners—and one that deserves a straight answer, not just a sales pitch.
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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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Smart Refinancing
When does it make sense to refinance?
A lot of homeowners ask me this question, and the honest answer is: it depends on your situation. Refinancing can help if rates have moved in your favor, your credit has improved, or you want to change your loan term. But there are costs involved—closing costs, appraisal fees, and the time it takes to close. The key is comparing what you'd save over time against what you'd pay upfront. Sometimes it makes sense; sometimes it doesn't. That's why it's worth having a real conversation about your specific numbers and goals. If you've been wondering whether refinancing is right for you, let's talk through the numbers together.
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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
Nancy Sandoval
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