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Mortgage Market Update
My Mortgage Company
Scott Reed
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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I hear a lot of questions about refinancing, especially when life changes or you're looking to optimize your mortgage. This week I want to break down the real considerations that matter.
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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 Basics
When does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you access cash for home improvements or debt payoff. But it also comes with closing costs and a new loan timeline, so it's not automatic that everyone should do it right now. The real question to ask yourself is whether the potential benefit outweighs what you'll pay to refinance. That's where a conversation with me comes in handy—I can run the numbers for your specific loan, timeline, and goals so you can make a decision based on facts, not guesswork. If you've been wondering whether it's worth exploring, let's talk. Reach out and we can walk through whether refinancing makes sense for your home.
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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
Scott Reed
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