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Mortgage Market Update
My Mortgage Company
Lisa Meyer
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there. Some months bring a flurry of refinancing questions, and some don't. If you've been thinking about whether it's worth looking into, here's what I usually tell people.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The key is understanding what you're trying to accomplish. Some people refinance to lower their rate and monthly payment. Others use it to tap equity for a major expense, consolidate debt, or shorten their loan term. Before you apply, ask yourself: will the monthly savings be worth the closing costs? How long do you plan to stay in the home? What's your reason for doing this now? There's no universal answer—it depends entirely on your situation. If you're wondering whether it makes sense for you, I'd love to walk through the numbers together and show you what refinancing could actually look like. Let's talk through whether refinancing fits your goals right now.
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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
Lisa Meyer
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