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Mortgage Market Update
My Mortgage Company
David Martel Powered By Barrett Financial Group
Thursday, September 3, 2026
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Refinancing isn't for everyone—here's why |
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A lot of homeowners ask me whether they should refinance, but the honest answer is: it depends. Let me break down what actually moves the needle.
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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 isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, your current loan balance, and what closing costs would be. If you're thinking about selling or moving within a few years, refinancing might cost you more than you save. But if you're settling in for the long haul and your situation has shifted—your credit improved, rates fell, or you want to shorten your loan term—it could be worth exploring. I can walk through the numbers with you and show you exactly what the payoff timeline looks like so there's no guesswork. Let's talk through whether refinancing makes sense 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
David Martel Powered By Barrett Financial Group
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