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Mortgage Market Update
My Mortgage Company
The Loan Yard
Thursday, September 3, 2026
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Should you refinance right now? |
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Hi there. This week I want to tackle one of the most common questions I hear—and one that deserves a honest, personalized answer, not a quick 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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether a new loan would save you money over time, accounting for closing costs and how long you plan to stay in your home. Some borrowers benefit within months. Others need years to break even. I've seen people refinance out of habit and others miss genuine opportunities because they didn't do the math. The best approach is to look at your specific situation: your current loan terms, how much you owe, your timeline, and your financial goals. There's no one-size-fits-all answer, which is why it's worth having a real conversation. If you're wondering whether refinancing makes sense for you, I'd be happy to walk through the numbers.
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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
The Loan Yard
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