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Mortgage Market Update
My Mortgage Company
Nick Street - FOR DELETION
Thursday, September 3, 2026
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Should you refinance? Here's how to tell. |
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Hi there. Sometimes the smartest money move isn't about jumping on the next rate drop—it's about knowing when a change actually serves your 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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Refinancing Basics
When does a refi actually make sense?
Refinancing isn't right for everyone, and it's not always about chasing the lowest rate. The real question is whether the benefits outweigh your costs and how long you plan to stay in your home. A lower payment feels good, but if you're resetting your loan term, you might pay more interest over time. That said, if your credit has improved, you've built equity, or your financial situation has changed since you bought, it could be worth exploring. The math is personal—and that's exactly why it's worth a conversation before you decide. If you're curious whether refinancing could work for your situation, reach out and we can walk through the numbers together.
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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
Nick Street - FOR DELETION
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