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Mortgage Market Update
My Mortgage Company
Matthew Young CRM
Thursday, September 3, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to talk about a tool that gets a lot of attention but deserves a closer, honest look: refinancing.
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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
Refinancing means replacing your current mortgage with a new one, and it's worth considering when your financial situation or the lending environment changes. Some people refinance to lower their monthly payment, shorten their loan term, or tap into home equity for a major expense. Others use it to switch from an adjustable rate to a fixed one for peace of mind. The catch is that refinancing involves closing costs and a new application process, so it only pays off if the benefits outweigh those upfront expenses—and that timeline varies for everyone. If you've been wondering whether it could work for you, I'd be happy to walk through the numbers and help you decide. Reach out if you'd like to explore whether refinancing fits your goals 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
Matthew Young CRM
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