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Mortgage Market Update
My Mortgage Company
Legacy Lending Group
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to tackle a question I hear often: Is refinancing worth it for me?
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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?
Refinancing isn't one-size-fits-all, and the math depends on your situation. Some homeowners refinance to lower their interest rate, which can reduce monthly payments or let you pay off your loan faster. Others tap into home equity for cash or to consolidate debt. The key is understanding your break-even point — how long you plan to stay in the home versus the costs to refinance. If you're thinking about it, the best move is to pull your current loan details and talk through the real numbers. I can walk you through whether it makes sense for you right now. Reach out anytime — I'm happy to review your loan and discuss your options.
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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
Legacy Lending Group
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