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Mortgage Market Update
My Mortgage Company
Mamta Khachane
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: when is refinancing actually worth doing?
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the monthly savings justify the costs and time to close. Some borrowers benefit immediately; others need to stay in their home long enough for the math to work out. It depends on your situation—how much you owe, your current rate, how long you plan to stay, and what fees are involved. The best way to know? Pull your loan details and let's run the numbers together. There's no obligation, and clarity costs nothing. If you've been wondering whether refinancing makes sense for you, reach out and we can walk through it.
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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
Mamta Khachane
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