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Mortgage Market Update
My Mortgage Company
Mackenzie Paquette
Thursday, September 3, 2026
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Could a different loan term help you? |
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Hi there — this week I want to walk you through something many borrowers overlook when they 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 Strategy
When your loan terms matter more than the rate
A lot of borrowers focus only on interest rates when thinking about refinancing, but your loan term — how long you have to pay it back — can be just as important to your finances. Stretching your loan over more years lowers your monthly payment, which helps your budget breathe. Shortening your term builds equity faster and saves you money on interest overall, though it means a higher payment each month. The right choice depends on where you are in life: are you looking to free up monthly cash flow, or are you ready to pay off your home sooner? Both are smart moves in different situations. I'm here to help you figure out which path makes sense for your goals. Let's talk about what a different loan term could mean 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
Mackenzie Paquette
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