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Mortgage Market Update
My Mortgage Company
Patricia Do Rosario
Thursday, September 3, 2026
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When does refinancing actually pay off? |
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Hi there,
This week I'm breaking down one of the most common questions I hear: when is refinancing the right move?
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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 101
When refinancing makes sense (and when it doesn't)
Refinancing sounds like a one-size-fits-all solution, but the truth is it only works if the math works for you. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or tap into home equity. But each one requires different conditions—like where rates are, how long you plan to stay, and what you'll actually do with the freed-up cash. I've seen borrowers save thousands over time, and I've also seen deals that sounded good on paper but didn't pencil out after closing costs. The key is running the real numbers for your specific situation, not just chasing a lower rate. If you're wondering whether refinancing is worth a closer look, I'd be happy to walk through the details with you. Reach out if you'd like to explore whether refinancing could work in your favor.
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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
Patricia Do Rosario
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