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Mortgage Market Update
Dylan Kirby
Dylan Kirby
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there—I wanted to share some straight talk about refinancing this week. A lot of borrowers ask about it, but many don't realize it's not a one-size-fits-all decision.
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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 right for everyone, and it's not always about chasing the lowest rate. The real question is whether the savings over time justify the costs and effort involved. Sometimes staying put is the smarter move—especially if you're happy with your current loan, close to paying it off, or planning to sell soon. I always recommend looking at the full picture: how long you'll stay in the home, what your new payment and terms would be, and whether you have the equity to refinance without paying extra fees. If you're curious whether a refi could work in your favor, I'm happy to walk through the numbers with no pressure. Let me know if you'd like to explore 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 Dylan Kirby team any time and we'll walk you through your options. |
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