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Mortgage Market Update
My Mortgage Company
Jose Ramos
Thursday, September 3, 2026
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Should you refinance right now? |
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Mortgage decisions aren't one-size-fits-all. This week, I want to help you think clearly about refinancing and whether it's right for you.
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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 Readiness
When does refinancing actually make sense?
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 saves you money over the time you plan to stay in your home. That means comparing your current rate and loan terms against what's available now, factoring in closing costs and how long you'll benefit. Some people refinance to lower their monthly payment. Others lock in a shorter loan term to pay off their home faster. A few consolidate debt into their mortgage. What works depends entirely on your situation and timeline. I'd love to walk through the numbers with you and show you whether it makes sense right now. Let's talk through 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
Jose Ramos
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