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Mortgage Market Update
My Mortgage Company
TEAM MEDINA LLC
Thursday, September 3, 2026
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Should you refinance? Here's how to tell |
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Hi there. This week I'm walking through one of the most common questions I hear when rates shift—and the honest answer isn't always yes.
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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 Strategy
When a rate drop actually makes sense
Not every rate movement calls for a refinance. I know that sounds counterintuitive, but here's the reality: refinancing has costs—appraisals, title work, processing fees. Those expenses mean you need to stay in your home long enough for your monthly savings to make up the difference. A smaller rate drop might not be worth it if you're planning to move in a few years. The math changes based on your timeline and how much you owe. That's why I always walk through a real break-even calculation before anyone applies. If rates do shift meaningfully, it's worth a quick conversation to see if your situation makes sense for a refi—or if waiting is smarter. Let's run the numbers on your specific situation if rates move.
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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
TEAM MEDINA LLC
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