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Mortgage Market Update
My Mortgage Company
Darren Cox
Thursday, September 3, 2026
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Does refinancing make sense for you? |
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Hi there — this week I want to talk about one of the most common questions I hear: should I 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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. It depends on how long you plan to stay in your home, what your current loan costs, and how much you'd pay in closing costs to refinance. I often talk to homeowners who are tempted by rate drops, but the math doesn't work if they're planning to sell in a few years. On the flip side, if you've built solid equity and plan to stay put, refinancing could meaningfully lower your monthly payment or shorten your loan term. The key is running the actual numbers for your specific situation — not just looking at headlines about rates moving. Let me help you figure out whether it makes sense for you right now. If you're curious whether a refinance pencils out for your home, I'd be happy to walk through the details with 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
Darren Cox
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