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Mortgage Market Update
My Mortgage Company
Alex Hernandez
Thursday, September 3, 2026
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Should you refinance right now? |
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Hi there. This week I want to talk about one of the smartest money moves you might not have considered yet: refinancing your mortgage.
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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 for you
Refinancing means taking out a new loan to pay off your existing mortgage — and it can be smart when the numbers work in your favor. The most common reason is a rate drop, which can lower your monthly payment or help you pay off your home faster. But there are other reasons too: you might refinance to tap into home equity for a major expense, switch from an adjustable to a fixed rate for peace of mind, or consolidate debt. The catch is that refinancing has costs, so it only pays off if you plan to stay in your home long enough to recoup those expenses through savings. I'd love to run the numbers with you and see if it makes sense right now. Give me a call or send a message — I can walk you through whether refinancing could help your situation.
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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
Alex Hernandez
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