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Mortgage Market Update
Antonio Bullock
Antonio Bullock
Monday, September 7, 2026
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Should you refinance? Here's what to consider. |
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Hi there. This week I want to tackle a question I hear often: when is refinancing actually a smart move?
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National Mortgage Rates · September 3, 2026
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Conventional 30-Year
6.71%
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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 it make sense to refinance your mortgage?
Refinancing isn't right for everyone, but it's worth understanding when it might work in your favor. The most common reason people refinance is to lower their monthly payment or shorten their loan term when rates drop. But there are other scenarios too — consolidating debt, switching from an adjustable to a fixed rate, or tapping equity for a major expense. The key is weighing the upfront costs against what you'll actually save over time. I'm happy to walk you through the numbers if you're curious whether a refinance could benefit your situation. Let's talk about whether refinancing makes sense for you right now.
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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 Antonio Bullock team any time and we'll walk you through your options. |
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