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Mortgage Market Update
My Mortgage Company
Kyle Albert
Thursday, September 3, 2026
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Should you refinance? (spoiler: maybe not) |
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Hi there,
This week I want to talk about something I hear a lot: the urge to refinance whenever rates move. Here's what actually matters.
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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 shift. The real question is whether your new loan costs will pay for themselves through lower monthly payments or a shorter loan term before you sell or move. That break-even point varies based on your situation—how long you plan to stay in your home, how much equity you have, and what closing costs look like for your scenario. I work through this math with borrowers all the time, and sometimes the answer is "wait." Sometimes it's "let's do it now." Either way, it's worth a conversation rather than a guess. If you're wondering whether refinancing makes sense for you, I'm happy to walk through the numbers.
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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
Kyle Albert
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