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Mortgage Market Update
Abiel Sanchez
Abiel Sanchez
Thursday, September 3, 2026
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Should you refinance? A straightforward answer. |
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Hi there. This week I want to cover a question I hear a lot: when does it actually make sense to 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 for your situation
Refinancing isn't right for everyone, but it's worth understanding when it might work in your favor. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. The catch is that refinancing involves closing costs and a new application process, so you want to make sure the benefit outweighs what you'll pay upfront. I always tell clients to think about how long they plan to stay in their home — if you're refinancing to save fifty bucks a month but the closing costs are three thousand, you need to do the math. If you're curious whether refinancing could work for you, I'm happy to walk through your specific numbers and show you what the real impact would be. Let's talk through whether refinancing might make sense for your loan.
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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 Abiel Sanchez team any time and we'll walk you through your options. |
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