Peter Trent, Mortgage Broker, Paragon Mortgage Group

11/21/2025

It's moments like this- a client celebrating their 9th Thankgsgiving in a home I helped them purchase, that makes all the hard work worth it. Helping people build the life they love never gets old. Happy Thanksgiving!

10/22/2025

Mortgage rates are dropping again. Example: 30 Year Fixed, purchase, $750k loan amount, 75% loan to value ratio, 780 credit score, single family home, primary residence is at 5.50% (5.598% APR) at .81 points, or 5.875% (5.889% APR) at Zero points! Feel free to reach out if you would like a custom quote. NMLS License Number 243483, Peter Trent, Paragon Mortgage Group.

08/15/2024

📉🏠 Mortgage rates are down from 7.22% in May to 6.47% as of August 8th, even though the Fed hasn't changed its rate in over a year. This shows that the Fed doesn't directly control mortgage rates.

While there's buzz about a potential Fed rate cut in September, it's important to understand that the Fed’s rate—used for overnight lending between banks—doesn’t directly impact 30-year mortgage rates. Think of it like comparing apples to oranges. 🍏🍊

Mortgage rates are more influenced by inflation expectations. When inflation is expected to rise, rates go up. When inflation looks to be easing, rates typically fall. Recent trends show inflation easing, which is why we're seeing lower mortgage rates now.

Stay tuned for my next post, where I’ll explain why mortgage rates sometimes move contrary to Fed actions. 📊💡

12/27/2023

Would you be surprised to hear that we can currently lend up to $766,550 at a 75% loan to value ratio, fixed for 30 years at 5.99% (6.003% APR), at just .061 points (which is a one time cost of $468)? Give me a call to learn more: 805-881-3752

11/30/2023

While there has been a lot of hand wringing over mortgage rates, the news has barely gotten out that rates have improved quite a lot over the last few weeks. Currently for a 30 year fixed rate loan up to $766,550 (at 75% loan to value, owner occupied single family home, with 780+ credit score) the rate is 6.75% with a REBATE of $2629 to help cover closing costs. APR on this rate would be 6.764%. If you know anyone who needs help with financing, please feel free to pass along my information. NMLS #243483

10/29/2023

The California Dream For All Downpayment Assistance Program will be coming back in the spring. This wildly popular program debuted last spring and ran out of funds with in the first two week. The program provides 20% downpayment assistance (in the form of a shared equity loan) up to $150K maximum assistance. The program as proposed so far includes a number of new qualifying issues. The primary one is that priority will be given to buyers who are first generation buyers. This is defined as one who has not owned before and their parents have not owned in the last 10 years, or who grew up in foster care. If you meet this definition, then there will be a lottery of qualified applications which will allocate vouchers to buyers with a specific time period to acquire a home. Any unused voucher will go back into the lottery. The state expects about 2000 purchases to be funded by this program next year, with 6% of them allocated to the Central Coast (Ventura to Monterey). So, while it is a pretty small allocation, it may make a dream come true for some very lucky buyers!

08/07/2023

Short escrow with a new mortgage? We can do that! In just 7 days we went from loan submitted to loan documents in escrow for our clients! Extraordinary service requires extreme attention to detail. When you are ready for the best, call us.

07/08/2023

July 11th is our next Savvy Senior Living Seminar!

Thinking about moving? Are your parents thinking about moving? Is it time to Rightsize? Christa and Elaine from The Clearing House, LLC are experts in the estate sale markets of Santa Barbara and Montecito. With their expert tips, they will help you prepare on what is needed to get ready for Rightsizing into your next home. The Clearing House will also educate you on what to expect from a professionally run estate sale, how to prepare in advance, and what makes for a successful and profitable sale! Thank You to our Amazing Educational Partners!
Peter Trent, Mortgage Broker, Paragon Mortgage Group State Street Insurance Solutions Por La Mar Nursery Santa Barbara Gift Baskets Loadstar Movers and QuinnFiduciaryServices

RSVP www.YourSBTeam.com or pm us!

03/23/2023

There's a new down payment assistance program rolling out on Monday March 27! The California Dream for All program provides a 20% down payment for first time buyers (defined as anyone who has not owned in the last 3 years). The assistance is in the form of a loan at zero percent interest. Upon selling the house you will repay the loan plus 20% of the appreciation. Unlike so many other programs, this one does NOT require the buyer to be in a low income category. The income limit for Santa Barbara County is $198,000 per year. Other counties are more or less, with the Bay Area having the highest limit at $300,000. The funds for this program are limited, so it likely will only last a few months. Please contact me if you or your friends can benefit from this program.

07/28/2022

I get almost daily calls from clients about the Fed increasing interest rates. What most people don't understand is that the Fed controls short term rates, and mortgages are long term. By increasing short term rates, the Fed will cool inflation. Therefore, long term rates move lower as the risk of inflation is lessened. The chart below shows just how much the yield on the 10 year bond has dropped since the peak on June 13th. While there is not a direct correlation to mortgage rates, the downward trend does correlate to lower rates for long term mortgages. Call me if you would like to discuss financing options.

02/07/2020

Rates are at historic lows. Please call me to see how much you could save.

Mortgage rates have plummeted to their lowest in four years, according to a new report. Should you refinance for home right now? Here's what to know.

08/11/2019

Now is a great time to refinance your home loan. Mortgage refinance rates in the US are reaching historic lows. Denmark has us beat though!

Denmark's third-largest bank said this week that customers will now be able to take out a 10-year fixed rate mortgage with an interest rate of -0.5%.