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Mortgage Market Update
My Mortgage Company
John Hersperger
Thursday, September 3, 2026
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Does it make sense to refinance right now? |
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Hi there. With rates always shifting, I hear a lot of questions about whether it's time to refinance. Let me share what I look at when I'm helping clients decide.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term savings justify closing costs and the time to process a new loan. If you're planning to stay in your home for several more years, a refi might pencil out. But if you're thinking of selling soon, those upfront costs might not be worth it. The same goes if your credit has improved since you bought—you may qualify for better terms now. I'd be happy to run the numbers with you and show you exactly what your break-even point would be. That way, you can make a decision based on your actual situation, not just on rate movement. Let's talk through whether refinancing fits your timeline and goals.
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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
John Hersperger
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