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Mortgage Market Update
My Mortgage Company
Travis Underwood
Thursday, September 3, 2026
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Refinancing math worth checking |
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Hi there. Interest rates shift all the time, and it's natural to wonder if those moves affect you. This week I want to walk through one of the questions I hear most often.
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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 Strategy
When a lower rate actually makes sense
Not every rate drop is worth refinancing for. I've seen borrowers get excited about a small decline in rates, only to realize the costs of refinancing would take years to recoup. The math has to work: your new payment needs to save you enough money over time to cover closing costs and other fees. If you're planning to stay in your home long-term, refinancing can be smart. If you might move or sell within a few years, the numbers probably don't line up. I'm happy to run the numbers for you—no obligation—and show you exactly when (or if) a refinance makes financial sense for your situation. Let's talk through whether refinancing is the right move for you.
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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
Travis Underwood
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