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Mortgage Market Update
My Mortgage Company
Wally Simpson
Thursday, September 3, 2026
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Should you refinance? Let's look at your numbers |
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Sometimes the smartest financial move is knowing when not to make one. This week, I want to walk you through how to think about refinancing so the decision feels clear and confident.
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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 actually makes sense
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'll owe upfront, and whether a lower payment actually saves you money over time. Some people refinance to shorten their loan term or switch from adjustable to fixed rates—that's different from chasing a lower payment alone. If you've been thinking about it, I'm happy to walk through your specific situation without pressure. There's no one-size-fits-all answer, but there's usually a clear answer for your home. Reach out if you'd like to talk through whether refinancing could work 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
Wally Simpson
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