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Mortgage Market Update
My Mortgage Company
Justin Hill
Thursday, September 3, 2026
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Should you refinance? Let's do the math |
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Sometimes the smartest financial move isn't the most obvious one. This week, I want to talk through one of the biggest decisions homeowners face: refinancing.
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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 sounds simple: take out a new loan to pay off your old one. But the real question is whether it saves you money over time. The math depends on how long you plan to stay in your home, what your current rate is, and what rates look like today. Sometimes a lower rate doesn't pencil out if you're only keeping the house another year or two. Sometimes it does even if rates only drop a little. The best move is to run the numbers with someone who knows your specific situation. I'm happy to walk through the calculation and help you decide if it's worth exploring right now. Reach out if you'd like to discuss whether refinancing could work for your goals.
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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
Justin Hill
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