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Mortgage Market Update
My Mortgage Company
Justin Greenberg
Thursday, September 3, 2026
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Does refinancing make sense right now? |
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Hi there. Refinancing isn't always the right move, even when rates change. Here's how to figure out if it's worth considering 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 Strategy
When refinancing makes sense (and when it doesn't)
A lot of homeowners wonder if they should refinance, especially when they hear about rate changes. The answer depends on your situation. If you've built equity, have good credit, and plan to stay in your home long enough to recoup closing costs, refinancing might lower your payment or shorten your loan term. But if you're planning to move soon or rates haven't shifted enough to justify the expense, it may not pencil out. I like to walk borrowers through the actual numbers—how long until you break even, what your new payment would be, whether you're refinancing to save money or access equity for a project. That clarity makes the decision easier. If you're curious whether refinancing could work for you, I'm happy to run the numbers with no obligation. Reach out if you'd like to explore whether a refi makes sense for your home and timeline.
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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
Justin Greenberg
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