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Mortgage Market Update
Annette Judd
Annette Judd
Monday, September 7, 2026
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Should you refinance your mortgage? |
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Hi there. Sometimes the smartest financial move is doing nothing—and knowing the difference matters.
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National Mortgage Rates · September 3, 2026
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Conventional 30-Year
6.71%
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple—take out a new loan to pay off the old one—but the real question is whether it actually improves your financial picture. The math depends on how long you plan to stay in your home, what your new rate and terms would be, and how much you'd pay in closing costs. Sometimes a refinance saves you thousands over time. Other times, you'd break even in five years or more, which doesn't make sense if you might move or sell before then. I've seen borrowers get excited about a lower rate and overlook the full picture. That's why it's worth a real conversation: we can run the numbers together and show you whether refinancing puts you ahead or just complicates things. Let's talk through your situation and see if refinancing makes sense 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 Annette Judd team any time and we'll walk you through your options. |
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