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Mortgage Market Update
My Mortgage Company
Rene Montano
Thursday, September 3, 2026
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Should you refinance? Here's how to tell |
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Homeownership gives you options as your life and finances evolve. One option that comes up often is refinancing—but it's not always a clear yes or no.
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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 it makes sense to refinance your mortgage
Refinancing isn't always the right move, but it can be worth exploring when circumstances shift. Maybe your credit has improved since you bought, or rates have moved in a way that could lower your payment or shorten your loan term. Other times, a refinance lets you tap into home equity for a major expense—without taking on high-interest debt elsewhere. The key is understanding your own financial picture: how long you plan to stay, what closing costs actually are, and whether the monthly savings justify them. If you're wondering whether refinancing could work for you, I'm happy to walk through the numbers and help you decide. Let's talk about whether refinancing makes sense 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
Rene Montano
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