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Mortgage Market Update
My Mortgage Company
Ronnee Walton (For Deletion)
Wednesday, September 16, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to cover a question I hear often: what exactly happens when you refinance, and when should you consider it?
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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
What changes when you refinance your mortgage
Refinancing means replacing your current loan with a new one, typically to get a better rate or adjust your loan term. When rates drop, refinancing can lower your monthly payment or help you pay off your home faster. You might also refinance to switch from an adjustable rate to a fixed one, or to tap into your home's equity for cash. The catch: refinancing involves closing costs and a new application process, so it only makes sense if the benefit outweighs those upfront expenses. The math depends on your situation—how long you plan to stay, how much you'd save each month, and the costs involved. I'd love to walk you through the numbers and see if it's worth exploring. Reach out if you'd like to talk through whether refinancing makes sense for you right now.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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3.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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
Ronnee Walton (For Deletion)
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