The Donovan Group: Paul Donovan, Mortgage Broker NMLS #361273

03/10/2023

Virginia Dent, with Harcourts Jade Properties, is hosting an open house this weekend for this awesome townhome in Carlsbad.

Desirable, updated 3 bedroom end unit in beautiful Las Playas! Freshly painted, new flooring, new stainless steel appliances, new fixtures, new window coverings, more! Convenient location to pool, spa, tennis, basketball courts and park areas. Private, fenced patio, and 2 car garage! Carlsbad School...

01/11/2023

Check out this home in San Carlos listed by Morgan Brown.

** Price Improvement** This fully remodeled home is on a huge double-lot with room for RV parking and an enormous backyard with endless opportunities including a pool or ADU. The heart of the redesigned home, a large stylish kitchen, features a GE Profile appliance collection, an island, open shelvi...

10/14/2022

⚠️ Y𝗲𝘀, 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝗮𝗿𝗲 𝗮 𝗹𝗼𝘁 𝗵𝗶𝗴𝗵𝗲𝗿 𝘁𝗵𝗮𝗻 𝘁𝗵𝗲𝘆 𝘄𝗲𝗿𝗲 𝗮 𝘆𝗲𝗮𝗿 𝗮𝗴𝗼.

But here are a few reasons why now is still a good time to buy a home...

✅ Less competition. That means less bidding wars, and less broken hearts. You have a much better chance of landing the home you want right now.

✅ Prices are stabilizing. We are not seeing the ridiculous over-asking-price offers we did a year ago, but we also aren't seeing home prices drop (generally). If you want to talk more about home prices and if we think they will go down more, reach out to me. I can also connect you to some of the best real estate agents in the area who can help answer this.

✅ You may be able to refinance when rates go down. That means you get your home now at a great price, and lower your payment or rate later. Most economists out there think lower mortgage rates will come back later in 2023.

✅ There are ways to lower your rate now. This one requires a conversation if you want to learn more about your unique situation and what we can do for you.

𝗡𝗼 𝗼𝗻𝗲 𝗹𝗶𝗸𝗲𝘀 𝘁𝗵𝗮𝘁 𝗿𝗮𝘁𝗲𝘀 𝗵𝗮𝘃𝗲 𝗴𝗼𝗻𝗲 𝘂𝗽 𝘁𝗵𝗶𝘀 𝗺𝘂𝗰𝗵 - 𝗯𝘂𝘁 𝗶𝘁 𝘀𝗵𝗼𝘂𝗹𝗱𝗻'𝘁 𝘀𝘁𝗼𝗽 𝘆𝗼𝘂 𝗳𝗿𝗼𝗺 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲. 𝗜𝗻 𝗳𝗮𝗰𝘁, 𝗶𝘁 𝗺𝗮𝘆 𝗯𝗲 𝘁𝗵𝗲 𝗿𝗲𝗮𝘀𝗼𝗻 𝘆𝗼𝘂 𝘀𝗵𝗼𝘂𝗹𝗱 𝗯𝗲 𝗯𝘂𝘆𝗶𝗻𝗴 𝗡𝗢𝗪, 𝗮𝘀 𝗺𝘂𝗰𝗵 𝗮𝘀 𝘁𝗵𝗮𝘁 𝗳𝗲𝗲𝗹𝘀 𝗹𝗶𝗸𝗲 𝗶𝘁 𝗰𝗼𝘂𝗹𝗱 𝗻𝗲𝘃𝗲𝗿 𝗯𝗲 𝘁𝗵𝗲 𝗰𝗮𝘀𝗲.

Reach out and let's talk about it more!

10/10/2022

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭𝟬, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝘁𝗶𝗹𝗹 𝗿𝗶𝘀𝗶𝗻𝗴 👎
Average mortgage rates ended the week higher, despite starting the week off improving slightly. Fed speakers last week reinforced the message that the Fed would continue to raise rates and hold them higher through 2023, and Friday's jobs data showed a strong labor market that is contributing to a resilient economy, all contributing to higher mortgage rates.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates are likely to move higher this week, reacting to consumer and wholesale inflation data coming out midweek, as well as being pushed higher by moves in the bond market. Mortgage rates are heavily influenced by the pricing of mortgage backed securities, which are likely to continue to lose ground this week pushing rates higher. We aren't likely to see rates move lower unless we get a surprisingly weak inflation reading this week, and even then it would be a long shot.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week boasts a full economic calendar, and reports that show the economy is not weakening will likely contribute to higher rates.
- The Fed: Minutes from last month's meeting will be released Wednesday, and depending on a reaction could affect mortgage rates this week.

10/03/2022

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟯, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝘄𝗼𝗿𝘀𝗲 👎
Average mortgage rates moved higher last week, continuing a long trend of rising rates. Rates were volatile through the week as well, moving higher and lower day-to-day as markets reacted to events in England that spilled over into our markets and influenced mortgage rates.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 👍
Mortgage rates starting the week off with some improvement, and we could finally be in a spot to see rates improve for the first time in weeks. However, as with recent weeks, we do have a lot of economic data that could actually cause rates to move higher if it points to higher inflation and larger Fed rate hikes, so it is a good week to stay in close contact with your mortgage professional.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: A busy week for data with a few different reports. Friday's jobs data is the most likely to affect rates though. If jobs data comes in strong, rates will not like that news, because strong employment supports a bigger Fed rate hike in November.
- Fed speakers: Lots of Fed officials speaking this week, which can sometimes move rates around.
- Global economy: Early improvements this week were a reaction to England's announcement to reduce planned tax cuts.

10/03/2022

New 5.0-star Review: ""

09/28/2022

New 5.0-star Review: "Paul made my refinance process so much easier than I thought it would be and he was so thorough and patient with me!"

09/26/2022

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟲, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗴𝗼𝘁 𝘄𝗼𝗿𝘀𝗲 👎
Average mortgage rates continued to move higher last week on growing fears that inflation is not slowing down enough and the Fed is going to hike policy rates more aggressively through the end of the year and into 2023.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝘄𝗼𝗿𝘀𝗲𝗻 👎
Mortgage rates are likely to continue higher this week as markets reset. Traders are sitting on cash, trying to survive the Fed induced storm that is battering stocks and bonds. Rising yields and falling bond prices contribute to higher mortgage rates. Many borrowers are seeing situations where they must pay points to even get a mortgage, and this is because of secondary market conditions and not generally within the control of the mortgage lender right now.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- The Fed: It is now expected the Fed will hike rates higher and hold them there longer.
- Economic data: Tuesday's consumer confidence reading and Friday's PCE inflation report are most likely to affect rates this week.
- Global economy: Fiscal stimulus and tax cuts in Europe have fueled fears of even more inflation overseas, requiring central banks to raise rates more aggressively. The reaction overseas also affects mortgage rates here at home.

09/23/2022

Mortgage rates have risen to levels we haven't seen in years...

𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝗲𝗱?
Rates have been pushed higher by recent economic data, like last week's inflation report, that is showing the economy isn't cooling off yet despite the Fed raising policy rates since March. Markets are now preparing for the Fed to raise rates even higher through the end of the year and into 2023, in order to quash inflation. Mortgage rates have already started to move higher the last few weeks on the expectations.

𝗦𝗼, 𝗵𝗼𝘄 𝗵𝗶𝗴𝗵 𝘄𝗶𝗹𝗹 𝗿𝗮𝘁𝗲𝘀 𝗴𝗼 𝗮𝗻𝗱 𝘄𝗶𝗹𝗹 𝘁𝗵𝗲𝘆 𝗰𝗼𝗺𝗲 𝗯𝗮𝗰𝗸 𝗱𝗼𝘄𝗻 𝘀𝗼𝗼𝗻?
As you can tell from the headlines about stocks, markets are volatile right now. Although it is possible rates could improve, the current forecast is that rates are going to move even higher. We will eventually see rates come down again, but that is only likely when the economy slows down and we could see a recession.

𝗜𝘀 𝘁𝗵𝗲𝗿𝗲 𝗮 𝘀𝗶𝗹𝘃𝗲𝗿 𝗹𝗶𝗻𝗶𝗻𝗴 𝘁𝗼 𝘁𝗵𝗲𝘀𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 𝗿𝗮𝘁𝗲𝘀?
Higher rates are no fun - period. Paying more each month for a home than you thought you would pay is a downer.

HOWEVER...
Higher rates are opening the door to more homes, and it is helping restore balance to the housing market. You can now find homes to purchase that aren't in a bidding frenzy, and borrowers getting a mortgage are not finding as much competition from cash buyers. Less demand means you have a better shot of landing your dream home!

I have some ideas on how to help make your payments more affordable while rates are higher. Contact me today and I'll tell you why now is still a great time to buy a home, and how I can help!

09/19/2022

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟭𝟵, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗴𝗼𝘁 𝘄𝗼𝗿𝘀𝗲 👎
Average mortgage rates got worse last week after consumer inflation data didn't show inflation was going down as fast as markets were speculating. The higher inflation data led markets to price in larger expected Fed rate hikes this month and at future meetings, pushing mortgage rates near the highest levels seen in years.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 👍
The Fed meeting this week is our best shot at seeing mortgage rates improve, although how much rates will go down is still anyone's guess. Rates have moved higher because the economy is not slowing down as much as expected, despite the Fed raising rates since March. Speculation of higher Fed rate hikes heading into 2023 will continue to keep rates at elevated levels.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- The Fed: The Fed meeting this week will conclude on Wednesday with a Fed policy statement that will include a rate hike, currently expected to be .75% by most but may be a full point by some forecasts. Mortgage rates have already priced in the increase and will not move higher on the Fed rate hike, but instead are likely to improve at least slightly. We will also see the Fed's rate forecast heading into 2023, and Fed Chair Powell's press conference.

09/16/2022

👍 𝗔𝘀 𝗮 𝗹𝗼𝗰𝗮𝗹 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹, 𝗺𝘆 𝗿𝗲𝗽𝘂𝘁𝗮𝘁𝗶𝗼𝗻 𝗱𝗲𝗽𝗲𝗻𝗱𝘀 𝗼𝗻 𝗽𝗿𝗼𝘃𝗶𝗱𝗶𝗻𝗴 𝗮 𝗯𝗲𝘁𝘁𝗲𝗿 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 𝘁𝗵𝗮𝗻 𝘁𝗵𝗼𝘀𝗲 𝗯𝗶𝗴 𝗯𝗮𝗻𝗸𝘀 𝗮𝗻𝗱 𝗼𝗻𝗹𝗶𝗻𝗲 𝗹𝗲𝗻𝗱𝗲𝗿𝘀.

Getting a mortgage doesn't have to be frustrating and confusing. 😠 If you have the right person guiding you through the process, it can be easy and more convenient! 😀

𝗜𝗳 𝘆𝗼𝘂'𝗿𝗲 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗮𝗯𝗼𝘂𝘁 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲, 𝗼𝗿 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝘁𝗵𝗲 𝗵𝗼𝗺𝗲 𝘆𝗼𝘂 𝗮𝗹𝗿𝗲𝗮𝗱𝘆 𝗼𝘄𝗻, 𝗹𝗲𝘁 𝗺𝗲 𝗯𝗲 𝘆𝗼𝘂𝗿 𝗴𝘂𝗶𝗱𝗲.

There's never any obligation or fees when we talk. I can help you get a great low rate, find out how much home you can comfortably afford, and also help you get pre qualified or pre approved (ask me about the difference!).

I hope to hear from you soon!