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Mortgage Market Update
My Mortgage Company
Richard Pisnoy
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 now a good time to refinance?
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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 actually makes sense
Refinancing isn't right for everyone, and it's not always about chasing the lowest rate. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. That might mean lowering your interest rate, shortening your loan term, switching from adjustable to fixed, or even cashing out equity for a smart home or financial goal. The math works differently for each situation—and it depends on how long you plan to stay in your home. I'd be happy to walk through whether refinancing could work for you, or help you understand when it probably doesn't. Either way, you'll have clarity instead of guessing. Let's talk through your specific situation and run the real numbers together.
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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
Richard Pisnoy
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