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Mortgage Market Update
My Mortgage Company
Lisa Watson
Thursday, September 3, 2026
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Refinancing: worth it or not for you? |
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Not every rate drop calls for a refi. This week I'm breaking down how to know when it actually makes sense.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings over time justify the costs and effort of a new loan. Some borrowers refinance to lower their rate, others to shorten their loan term or tap into equity. But if you're planning to move in a few years, the closing costs might never pay for themselves. I always tell clients: run the numbers first. How long will you stay in the home? What's your current rate versus available rates? What would the new payment be? These answers tell the real story. If you're wondering whether it's worth exploring, I'm happy to walk through a quick scenario with you—no obligation. Let me know if you'd like to talk through 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
Lisa Watson
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