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Mortgage Market Update
My Mortgage Company
Heidi Hernandez
Thursday, September 3, 2026
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Does refinancing make sense for your situation? |
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Hi there. This week I want to tackle a question I hear a lot: should I refinance? The answer isn't always yes—even when it seems tempting.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the long-term benefit outweighs the costs and time involved. If you're thinking about it, I'd look at: how long you plan to stay in your home, what your current rate and loan term are, and whether your credit has improved since you first borrowed. Sometimes a refinance pencils out beautifully. Other times, you're better off putting that energy and money toward paying down principal or tackling other financial goals. The best way to know which camp you're in is to run the numbers with someone who knows your full picture—not to sell you a new loan, but to give you honest perspective. Let's talk through whether refinancing makes sense for you right now.
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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
Heidi Hernandez
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