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Mortgage Market Update
My Mortgage Company
Transformation Home Loans
Thursday, September 3, 2026
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Should you refinance right now? |
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Not every rate movement means you should refinance. This week, I'm sharing the one question that should guide your decision.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the new loan will save you money over the time you plan to stay in your home. That means looking at your new rate, the closing costs you'd pay, and how many months it takes for your monthly savings to cover those upfront expenses. Sometimes you break even in six months; sometimes it takes two years. If you're thinking about selling or moving within that window, refinancing might work against you. The best approach is to run the actual numbers for your specific situation—not just glance at a rate quote. If you're wondering whether a refinance pencils out for you, I'd be happy to walk through the math.
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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
Transformation Home Loans
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