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Mortgage Market Update
My Mortgage Company
Brian Irby
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Sometimes the smartest money move isn't obvious from the headlines. This week, I want to talk about refinancing—when it actually pays off, and when it might not.
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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 shift. The real question is whether the long-term benefit outweighs what you'll pay upfront to refinance. If you've built equity in your home, rates have moved favorably, or you plan to stay put long enough to recover closing costs, refinancing might lower your monthly payment or shorten your loan term. But if you're thinking of selling in a few years, the math might not work. The key is running the numbers with your specific situation in mind—not just chasing rates. I'm happy to walk through whether refinancing makes sense for you right now. Let's look at whether refinancing could work 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
Brian Irby
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