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Mortgage Market Update
My Mortgage Company
Trey Pennington
Thursday, September 3, 2026
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Refinancing: is it worth it for you? |
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Hi there. This week I want to tackle a question I hear often: when does refinancing actually pay off?
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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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question isn't whether you *can* refinance—it's whether the benefit outweighs the cost and time. Some people refinance to lower their rate or shorten their loan term. Others tap equity for a major expense or consolidate debt. But if you're only saving a small amount each month, closing costs and the reset timeline might not pencil out. The key is running the actual numbers for your specific loan and goals. That's where I come in. I can show you whether refinancing makes financial sense in your case, what your options look like, and how long it would take to break even. No obligation—just clarity. If you're curious whether refinancing could work for you, let's talk through it.
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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
Trey Pennington
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