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Mortgage Market Update
Tanner Floyd
Tanner Floyd
Thursday, September 3, 2026
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Should you refinance your mortgage right now? |
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Sometimes I hear from borrowers who refinanced, only to realize later it wasn't worth it. Other times, a refi was the smartest money decision they made. Here's how to know the difference.
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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 financial sense
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term savings justify the upfront costs and the reset of your loan timeline. I work with borrowers who sometimes refinance to lower their rate by just a quarter point—and end up spending more than they save. Other times, a refi makes perfect sense because it cuts years off the loan or reduces monthly strain without extending the timeline. The math depends on your specific situation: how long you plan to stay in the home, what you'd pay in fees, and your current rate versus available rates today. If you're wondering whether refinancing makes sense for you, I can run the numbers and show you exactly what the trade-offs look like. Let's talk through your refinancing options and see if it's worth your time.
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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 Tanner Floyd team any time and we'll walk you through your options. |
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