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Mortgage Market Update
My Mortgage Company
Lonnie Knob
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there — this week I want to talk about one of the most common questions I hear: when should you actually refinance?
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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 math has to work: your new loan's costs need to be recouped by the monthly savings before you plan to sell or move. Some people break even in two years; others take five or more. Your credit score, how much equity you have, and how long you'll stay in your home all factor in. I run these numbers for borrowers all the time, and sometimes the honest answer is "let's wait." That's the kind of straight talk that saves money. If you're wondering whether it makes sense for your situation, I'd like to pull your details and walk through it together. Let me know if you'd like to explore whether refinancing could work for you.
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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
Lonnie Knob
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