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Mortgage Market Update
My Mortgage Company
Mashell Carmack
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to walk you through one of the most common questions I hear from homeowners: whether now is the right time to 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 appealing. The real question is whether the monthly savings will outweigh what you'll pay in closing costs and how long you plan to stay in your home. If you're thinking about moving in a few years, a refi might not pencil out. But if you're settling in and your situation has changed—your credit improved, rates dropped, or you want to shorten your loan term—it's worth running the numbers. The best time to explore this is before you need to, when you can make a calm decision based on your actual timeline and goals, not pressure. Let's talk through whether refinancing makes sense for your situation 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 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
Mashell Carmack
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