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Mortgage Market Update
My Mortgage Company
Silvia McGeary with Unity Mortgage, LLC
Thursday, September 17, 2026
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Should you refinance your mortgage? |
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Hi there,
I've had several conversations this week about refinancing, so I thought I'd share some straightforward thinking on the subject.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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 does it make sense to refinance?
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Some people refinance to lower their monthly payment. Others tap into equity for a home project or to consolidate debt. The key is understanding what you're actually trying to accomplish and whether the costs involved make sense for your goal. If you've been in your home for a while or your financial picture has changed, it might be worth a conversation. I can walk through your options and help you figure out if refinancing aligns with what you're trying to do next. Give me a call or send me a message if you'd like to explore whether refinancing could work for you.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into the loan.
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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
Silvia McGeary with Unity Mortgage, LLC
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