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Mortgage Market Update
My Mortgage Company
Power Lending
Thursday, September 3, 2026
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Should you refinance? Let's do the math |
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Not every rate environment calls for a refinance. This week, I want to share how to tell the difference between a move that pays off and one that costs you money.
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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 drop or your financial picture improves. The real question is whether the benefit you'd gain — a lower payment, shorter loan term, or switching from adjustable to fixed — justifies the time and cost of the process. Some people refinance and break even in just a few months. Others never recoup their costs if they plan to sell or move soon. The smartest move is to run the numbers with someone who has no incentive to push you either direction. I'm happy to walk through your specific situation, no obligation, and help you decide if refinancing actually works in your favor right now. Let's talk through whether a refinance pencils out 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
Power Lending
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