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Mortgage Market Update
My Mortgage Company
Allison McPike
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there. Sometimes the best financial move is knowing when not to make one. This week, let's look at refinancing with clear eyes.
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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 can be a smart move, but it's not right for everyone or every situation. The basic math is simple: if your new loan saves you money over time after accounting for closing costs, it's worth considering. But the timing matters. Interest rates, how long you plan to stay in your home, your current loan balance, and your credit profile all play a role in whether refinancing pencils out for you. Some people refinance to lower their rate, others to tap equity or shorten their loan term. I've seen all three strategies work well — and I've also seen people pass on refinancing because the numbers didn't support it yet. That's honest advice that protects your wallet. If you've wondered whether refinancing might work for your situation, I'd love to walk through the specifics with you. Let's talk through whether refinancing could benefit you right now.
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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
Allison McPike
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