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Mortgage Market Update
My Mortgage Company
Dawn Palestini
Thursday, September 3, 2026
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Does refinancing make sense for your loan? |
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Hi there. This week I'm walking through one of the most common questions I get: when is refinancing actually worth it?
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'll receive over time outweighs the closing costs and the reset of your loan term. Some borrowers refinance to lower their rate or monthly payment. Others use it to switch from an adjustable to a fixed rate, or to tap equity for a major expense. The key is running the math specific to your situation—how long you plan to stay in the home, what you'd pay upfront, and what you'd save each month. I help borrowers think through this honestly so they make a move that actually improves their financial position, not just a move that feels good in the moment. Let's talk through whether refinancing could work for you.
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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
Dawn Palestini
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