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Mortgage Market Update
My Mortgage Company
Ares Mortgage
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 address a question I hear often: when should you actually refinance your mortgage?
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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. The real question is whether the long-term benefit outweighs the upfront costs and the time you plan to stay in your home. If you're thinking about moving in a few years, refinancing might not pencil out. But if you're settled in and your situation has changed—your credit score improved, rates have dropped meaningfully, or you want to shorten your loan term—it could be worth a conversation. I help clients run the numbers so there are no surprises. The key is understanding your break-even point and making sure any refinance aligns with your actual plans. 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
Ares Mortgage
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