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Mortgage Market Update
My Mortgage Company
Capital – Barrett
Thursday, September 3, 2026
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Does refinancing actually pay off for you? |
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I'm sharing thoughts on one of the most common questions I hear: Should I refinance? The answer depends on your personal timeline and goals.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math has to work: you need to stay in your home long enough to recover the closing costs through monthly savings. If you're planning to move in a few years, refinancing might cost you more than it saves. But if you're settled in and rates have shifted meaningfully, running the numbers could reveal real long-term savings. The key is understanding your break-even point—how many months until your lower payment outpaces what you spent to refinance. This varies based on your loan balance, the rate difference, and your specific costs. I'd love to walk you through whether refinancing makes sense for your situation. Let's talk through your refinance options and what the timeline might look like for your home.
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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
Capital – Barrett
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