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Mortgage Market Update
My Mortgage Company
Lisa Blake
Thursday, September 3, 2026
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Should you refinance? A straightforward question |
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Refinancing comes up a lot in conversations with homeowners, and for good reason — it can be a powerful money move. But it's not automatic, and the decision depends on your personal timeline and goals.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't right for everyone, and the math changes depending on where you are in your loan and what rates look like. If you're early in a mortgage, switching to a new loan means restarting that interest clock — but if rates have moved in your favor and you plan to stay in your home long enough, the savings can be real. The key is understanding your breakeven point: how many months until lower payments offset the cost of refinancing. Some borrowers benefit from a cash-out refi to consolidate debt or fund improvements. Others find that staying put makes more sense. There's no one-size-fits-all answer, which is why it helps to run the numbers with someone who knows your full picture. Let's talk through 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
Lisa Blake
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