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Mortgage Market Update
Evan Karr
Evan Karr
Tuesday, November 3, 2026
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What we actually look for in a mortgage application |
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A lot goes into a lending decision, and some of it surprises borrowers. Here's what really matters.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates 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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Smart Borrowing
What lenders look at when you apply
When you're ready to buy or refinance, lenders evaluate several pieces of the picture — not just your credit score. We look at your income, job stability, debts, savings, and the amount you're putting down. We also consider the property itself and the local market. Understanding what matters most helps you prepare a stronger application and know where you stand before you apply. If you've been wondering whether you're ready, or what might help your case, I'm happy to walk through your situation and give you honest feedback on what we'd need to see. Let's talk about where you are and what comes next.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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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 Evan Karr team any time and we'll walk you through your options. |
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