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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to tackle a question I hear often: when should you actually refinance, and when should you hold tight?
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the monthly savings justify closing costs and the time to process a new loan. If you're planning to stay in your home for several more years, refinancing often pencils out. But if you're thinking about selling or moving within the next couple of years, those upfront costs might not pay for themselves. I work with borrowers to run the actual math on their situation—comparing their current loan to what a new one would look like, factoring in how long they plan to own the home. It's one conversation that can save you thousands in unnecessary fees. Let's sit down and talk through whether a refinance makes sense for your specific situation.
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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 Brandon Palmer team any time and we'll walk you through your options. |
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