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Mortgage Market Update
My Mortgage Company
Nicole Farmer
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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When you own a home, you'll hear about refinancing opportunities. But the real question is whether one is 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
When does a refi actually make sense?
Refinancing sounds appealing when rates drop or when you're tired of your current loan—but it only pencils out when the math works in your favor. The key is comparing what you'd pay over time with your current loan versus a new one, factoring in closing costs and how long you plan to stay in your home. Sometimes a lower rate saves you real money. Sometimes it doesn't. I can walk through the numbers with you to see if refinancing makes financial sense for your situation, or if you're better off staying put. Let's talk through whether refinancing fits your goals.
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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
Nicole Farmer
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