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Mortgage Market Update
My Mortgage Company
Jackson Murphy
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there—I hope you're having a good week. Today I want to talk about something that comes up a lot: when refinancing actually makes financial sense.
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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
When refinancing makes sense
Refinancing isn't always the right move, but it can be worth exploring if your situation has changed. Maybe rates have shifted enough to lower your payment, or perhaps you've built equity and want to tap into it for home improvements or debt consolidation. Sometimes it makes sense to shorten your loan term if you're in a position to pay more each month. The key is comparing the cost of refinancing against the real benefit you'd get—and that math is different for everyone. If you're wondering whether now is a good time for you, I'd be happy to walk through the numbers without any obligation. Reach out if you'd like to explore whether refinancing could work for your situation.
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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
Jackson Murphy
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