Tag Archive for: financial planning

Hello? Is Anyone There?

A while back my phone rang.

Nothing unusual about that. What was unusual was what the guy on the other end said almost immediately after I picked up.

“I can’t believe you actually answered.”

Turns out he’d called four or five other mortgage brokers in Halifax before finding me. Not one of them picked up. No answer. No callback. Nothing. Just a guy with real questions, real finances, and a real deadline — sitting there listening to voicemail after voicemail from people who are supposedly in the business of helping people get mortgages.

I answered. We talked. I listened to what he actually needed, asked the right questions, and eventually funded his mortgage.

All because I picked up the phone.

So why don’t other brokers answer?

Honestly? My theory is that they’ve convinced themselves that whatever they’re doing at that moment is more important. Underwriting a file. Updating a spreadsheet. Grabbing a coffee. Whatever it is — it can wait. Almost anything can be paused when a phone rings with a real live human being on the other end who wants to talk about their mortgage.

A warm prospect goes cold fast. If someone has worked up the courage to call — because let’s be honest, calling a stranger about your finances takes a little courage — and nobody answers, they don’t always call back. Sometimes they just give up, or worse, they find someone else who did pick up.

I don’t want to be the broker they couldn’t reach.

Here’s what I actually do when I answer.

I listen.

Radical concept, I know.

I’m not running through a script or trying to qualify someone in the first 90 seconds. I’m having a conversation. A real one. Because the person on the other end isn’t a transaction — they’re a person with a specific situation, specific concerns, and specific questions that deserve a specific answer. Not a voicemail. Not a contact form. Not a chatbot.

Me.

I have a prospect I’ve been talking with on and off for months now. Every time he calls there are kids screaming in the background. Every. Single. Time. And every time, I answer anyway — because he’s calling because he needs guidance, and if I’m not there to give it, what exactly am I here for?

I’m not a help line. But I am here to help. There’s a difference — and most days that difference is just picking up the phone.

A word to anyone who’s been ignored.

If you’ve called a mortgage broker and heard nothing but voicemail, I want you to know something: you are not a number. You’re not an interruption. You’re a person with a real question that deserves a real answer — and if the person you called can’t be bothered to pick up, maybe they’re telling you something important about how the rest of the process will go too.

My number is 902-465-5533.

I answer.

Pat

The Financial Gut Punch — And How Smart Homeowners Fight Back

Yesterday was a good day. I picked up a commission cheque from one of my private lending files, swung by the bank to deposit it, and was feeling the kind of quiet satisfaction that comes from doing good work and getting paid for it. Then, on the way home, my 2015 Nissan Pathfinder decided it had other plans. Check engine light flashing. Bad vibration. The kind of feeling in your gut that tells you this isn’t a loose gas cap.

This morning a tow truck came and took it away. Funny how that works.

I’m not telling you this for sympathy. I’m telling you this because it happens to all of us — and it almost always happens at the worst possible time.

The Financial Gut Punch Doesn’t Care About Your Timing

It’s never a leaky roof in a good month. It’s never a transmission when you have a fully funded emergency account and zero stress. It shows up when you’re building momentum, when you finally feel like things are moving in the right direction, when you had plans for that money.

My clients go through versions of this all the time. A furnace. A job interruption. A separation. And then there’s the one nobody sees coming — your favourite cousin just announced her destination wedding. In Bora Bora. Of all places. Now you’re looking at airfare, a hotel, a wedding gift, and apparently a new outfit because you can’t show up to Bora Bora looking like that. Does she think you’re a Rockefeller? But it’s your favourite cousin. So obviously you’re going.

The details change but the feeling is the same — sudden, stressful, and expensive.

The difference between people who recover quickly and people who spiral isn’t luck. It’s knowing your options before you need them. And if you own a home, you likely have more options than you think.

Four Ways Homeowners Fight Back

1. The HELOC — Your Financial Fire Extinguisher

A Home Equity Line of Credit is one of the most powerful and underused tools a homeowner has. It sits quietly in the background, costs you nothing until you use it, and gives you access to your equity on demand. Think of it as a financial fire extinguisher — you hope you never need it, but you really want it on the wall when the kitchen catches fire. If you have equity and you don’t have a HELOC, that’s a conversation worth having before the next gut punch arrives.

2. Refinancing to Reset

Sometimes a surprise expense is actually the nudge you needed to look at the bigger picture. If you’re carrying high-interest debt alongside a mortgage, a refinance can roll everything together, lower your monthly payments, and give you room to breathe again. It’s not giving up — it’s restructuring. Smart people do it all the time.

3. Private Lending as a Bridge

This one surprises people. Private mortgages aren’t just for clients who can’t qualify traditionally — they’re also a legitimate short-term tool for homeowners who need to move fast. When timing matters and traditional financing is too slow, a private bridge can solve a problem in days instead of weeks. Short term, higher cost, but sometimes exactly the right move.

4. Strategic Use of Investments

RRSPs and TFSAs can play a role in a financial recovery plan — but this one requires care. The timing, the tax implications, and the long-term cost of withdrawing early all matter. Used thoughtfully, they can be part of the solution. Used impulsively, they can create a new problem. This is where having the right conversation makes all the difference.

There’s Always a Path Forward

I’m still waiting to hear whether my Pathfinder needs a valve body or a full transmission rebuild. Either way, there’s a solution. It might not be the one I wanted, and it might cost more than I’d like — but there’s a path forward.

There always is.

If life just handed you an unexpected bill and you own your home, don’t sit on it. You may have options you haven’t considered yet. That’s exactly the kind of conversation I have every day.

Let’s talk.

Patrick Sawler — Mortgage Broker, Craigburn Capital Licensed in Nova Scotia and Ontario | Private Financing in NB and PEI craigburn.com

Timing the 2025 Real Estate Market

Why Now is the Perfect Time to Buy or Refinance Your Mortgage in Canada’s Shifting Economy

The Canadian economy has been navigating a complex landscape over the past few years, shaped by global uncertainties, inflationary pressures, and evolving monetary policies. As we move further into 2025, the Canadian mortgage market is experiencing significant shifts, driven by changes in the Bank of Canada’s lending rate and bond yields. For homeowners and prospective buyers, these trends present a unique opportunity to make strategic financial decisions. Let’s dive into the current state of the economy, the mortgage market, and why now is an ideal time to buy or refinance—and how I can help you make the most of it.

The Current Canadian Economic Landscape

Canada’s economy has shown resilience despite global headwinds, with steady growth in key sectors like technology, renewable energy, and natural resources. However, inflation remains a focal point for policymakers. After a period of aggressive rate hikes by the Bank of Canada (BoC) to combat inflation, the central bank is now adopting a more cautious approach. The BoC’s overnight lending rate, which influences borrowing costs across the economy, has stabilized in recent months, following a series of incremental decreases.

This stabilization has brought a sense of predictability to the market, which is crucial for both consumers and investors. With inflation mostly under control, the BoC’s measured approach suggests that further rate changes may be unlikely in the near term. This has created a favorable environment for borrowers, particularly in the mortgage market.

The Impact of Bond Yields on Mortgage Rates

Mortgage rates in Canada are closely tied to government bond yields, particularly the 5-year bond yield. Over the past year, bond yields have experienced volatility, reflecting market reactions to inflation data, geopolitical events, and central bank policies. However, recent trends indicate a gradual decline in bond yields, which has translated into lower fixed mortgage rates.

For homeowners with variable-rate mortgages, the stabilization of the BoC’s lending rate means fewer surprises in their monthly payments. Meanwhile, those considering fixed-rate mortgages can take advantage of the current dip in bond yields to lock in historically competitive rates. This combination of factors makes it an opportune moment to explore your mortgage options.

Why Now is the Time to Buy or Refinance

  1. Lower Fixed Mortgage Rates: With bond yields trending downward, fixed mortgage rates have become more attractive. Locking in a low fixed rate now can provide long-term stability and protection against future rate hikes.
  2. Stable Variable Rates: If you prefer a variable-rate mortgage, the BoC’s pause on rate increases offers a window of predictability. This is an excellent time to secure a variable rate before any potential future rate changes.
  3. Refinancing Opportunities: Homeowners who purchased properties during the peak of rate hikes may benefit from refinancing at today’s lower rates. This can reduce monthly payments, free up cash flow, or even allow you to pay off your mortgage faster.
  4. Increased Buying Power: For prospective buyers, the current mortgage rates enhance affordability. Combined with a stabilizing housing market, this creates a favorable environment to enter the market.

Why I’m the Ideal Broker to Guide You

Navigating the mortgage market can be overwhelming, especially with the constant fluctuations in rates and policies. That’s where I come in. As an experienced mortgage broker, I have a deep understanding of the Canadian economy and the mortgage landscape. My goal is to help you find the best solution tailored to your unique financial situation.

Here’s what sets me apart:

  • Expertise: I stay ahead of market trends and leverage my knowledge to secure the most competitive rates for my clients.
  • Personalized Service: I take the time to understand your goals, whether you’re a first-time buyer, looking to refinance, or investing in property.
  • Access to Lenders: With access to a wide network of lenders, I can offer a range of options that suit your needs.
  • Commitment to Transparency: I believe in clear, honest communication, ensuring you’re informed every step of the way.

Take Action Today

The Canadian mortgage market is in a unique position, offering opportunities for both buyers and homeowners. Whether you’re looking to purchase your dream home, refinance to lower your payments, or explore investment opportunities, now is the time to act. With my expertise and dedication, I’ll help you navigate the process with confidence and ease.

Don’t miss out on this favorable moment in the market. Contact me today to discuss your mortgage needs and take the first step toward achieving your financial goals. Together, we’ll make the most of this exciting time in the Canadian economy.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2024-3000179) Broker (2024-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Bang for your buck

People often wonder what gets the most bang for your buck, paying off debt or investing for the future ? Well I think it all boils down to which will give you the greatest return. It is best to look at the costs of your debts, do you just have a mortgage with a rate below 5% or do you also have a line of credit, credit cards and a vehicle loan.

If you can generate a greater return in the market higher than what you are paying to service your high interest credit card debt then by all means invest it in the market. However unless you are Warren Buffett, George Soros or Ray Dalio you should start by paying off your high interest debts before investing in the market.

There is one thing to consider before you put your tax return, your bonus or your big commission towards paying off your debts and that is have you set up and funded your reserve fund? It is important to have a reserve fund with at least 90 days of your living expenses as this will prevent you from falling into credit card debt if you hit a rough patch in the future.

Today I am thankful for a quiet house and the sound of rain, discovering new music or music that I have not heard in a long time by using auto play from Apple Music and for the kind words from clients.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

5 Ways to Avoid a Personal Financial Crisis

Here are some tips on what you should do to avoid a personal financial crisis:

1) Have an emergency slush fund

You should have at least 3 months of living expenses put away in case the worst happens. I am not talking about putting it in your mattress or in a coffee can. These funds should be liquid and fairly easy to access quickly but not so that you can dip into them & buy something if the whim strikes you. My wife and I have used an ING investment savings account, you could do something similar or open a Tax Free Savings account, that way your emergency fund is tax protected.

2) Know your income and expenses

Most people might know how much they make but have no idea how much they are spending. When I got out of University I worked as a personal trainer for a few years. When I took on a new client, I would have them keep track of what and when they ate for a week to give them a better idea of what is really going on in regards to their health. Your finances are no different, take a 30 day period, create an excel spreadsheet for example and track all income and expenses. Then sit down and take a real good look at it and decided if it is needed or not. Trim the fat and put the saving’s into your newly developed emergency fund.

3) Diversify your income

What I mean by this is don’t put all your eggs into one basket. Develop a secondary income stream incase something were to happen to your day job. Turn that passion or hobby into a business. Invest in real estate. Build a residual income stream by joining a network marketing or direct selling company. Make sure that what ever you do, it’s something that you are passionate about and will allow you to add to your bottom line. The other advantage is that your new business could become a great tax deduction, check with your accountant to make sure that it is structured properly.

4) Give your self an immediate 18-20% return!

How is this possible you may ask? It’s easier than you may think. Do it by paying off your debt. Start with your higher interest debt, your credit cards which are anywhere from 12%-18%, or if it is a department store card, it could be as high as 24%. Next your car payment, unless you have a 0% loan, you are probally paying 7-9%. Lastly your mortgage 3-7%. If you need a detailed plan on how to do this quickly, let me know I have designed quite a few of them.

5) Lastly make sure that your affairs are in order.

I am not trying to sound morbid, but we don’t live forever. Have a proper estate plan, have health insurance for your and your loved ones, and have an insurance policy big enough so that the one’s you leave behind are not faced with an immediate financial crisis. For this point I suggest consulting with your personal estate lawyer as well as your financial planner. If you don’t have one I can suggest for legal advice or here are two good options for financial planning.

Bonus point….and this should be a no brainer.

To achieve anything on this list, you should have a plan. Start with a clear picture of the current state of your finances. How much time do you have between where you are now and where you want to be? With the help of one of the financial planners above or your own, develop your plan and work your plan. Remember to be flexible in your approach, know what’s working or not, and be willing to make the necessary changes to insure that you achieve your goal.

*Note that I receive no gain monetary or other wise from promoting the services or products in this post.

As always, feel free to contact me if you have any questions and I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

October 2009

Here is October 2009’s monthly update on key economic data. Please contact me if you have any questions.
Cheers,
Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.


Flexible Juggler

Yes as strange as that may sound, but in order to succeed in this day and age you need to be a “Flexible Juggler”. To put this another way, you need to be able to balance several tasks at the same time while maintaining flexibility in your approach to completing each task. Do you want to know who are good at this? Mom’s! Yes Mom’s, my wife is fantastic at this, I get the kids up, she makes them breakfast, referee’s any disputes that may be happening at the same time, motivates them to finish their breakfast, assembles outfits to get them dressed, gets them ready to get out the door, drop’s two off at school and one at day care and then tends to her 85 year old father, picks up the kids for their lunch then back to school, cleans up the house, plans supper, pick’s up the kids, more referee time, makes supper, tubby time for the kids, story time, then bed, plans her day for tomorrow, then starts it all over again. I am tired just thinking about it.

If you want something done, then give it to someone with a well managed busy schedule. This can also be said of the person who is in control of their finances. They know exactly what is coming in each month, what their expenses are, how much they can put away for a rainy day or retirement and how much fun money they have. Are you one of these people?  Or does your money run out before your month does? If you fall into the latter rather than the former, it may be time to re-evaluate your situation. What you are doing may be working now, but it is not a long term solution. Sort of like relying on shoe boxes for your filing systems.

If you would like a fresh perspective on how you can achieve your financial goals, then please feel free to give my office a call.I look forward to hearing from you.
Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Fired or fired up!

This is not a pep talk, it’s a reality check. Look at your track record, are your results what you want them to be? If not you should either get fired or fired up. By this I mean act as if your were your own boss cause in reality no matter what you do or where you work you are! Think about this for a moment, you did not just wake up today and discover that you were 50 lbs over weight, 150K in debt and in a job that you hated. This was a long time coming and possibly you just realized that today is the day that you are going to do something about it. You have to realize that what you have been doing in the past was not working and should be “fired” and that you need to get “fired up” about a brand new approach. One that will produce for you the results that you want.

You are actually well on your way to your goal, you know what does not work and you are determined to do something about it. Congratulations on coming to this realization. Next make your plan, and work your plan and be flexible in your approach.

If you have read more than one article on this blog, you may be asking yourself why is a mortgage broker writing about personal development? Well it’s because if you stand still too long you end up getting run over. As well people who are high achievers are driven goal originated people who are believe in constant never ending improvement. I also believe that you are one of them or at the very least want to be one of them. I also commit to help you any way that I can to achieve your financial goals. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Star or supporting part?

Put it this way, if there was a movie made of your life, would you be playing a leading role or a supporting part? By this I mean are you making the decisions that determine the overall direction of your life, or it is some other party like a spouse or boss? Don’t get me wrong, this is not a recommendation to act like a dictator. I simply mean that if you do not have clearly defined goals and plans to achieve them, then you are working to help someone else achieve theirs.

Believe it or not, it is not that hard to do. You can start small and work up. What do you want to achieve tomorrow, next week, next month and next year. Then describe in vivid detail what your long term goal looks like once it has been obtained. Have your big goal firmly in mind even while working on your short term goals.

If your goal is to be in fitness cover model shape then missing your workouts and eating double cheese burgers may not be in your best interest.  If you are in sales and your goal is to qualify for the company trip then you must make the calls. As well if you want to get out of debt then you must be keenly aware of how much money you have coming in and how much you have going out and to where. Then sit down and see if there are opportunities where you can increase your income, and cut expenses if possible. If you would like help developing a plan to help you eliminate your debt as quickly as possible, please feel free to contact my office. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

The importance of Timing

You may, like others think that timing has nothing to do with your overall success, however I believe this is not the case. If you think back to some significant events in your life, either positive or negative, timing played a part . Don’t get me wrong I don’t think that it has everything to do with your outcome, but it definitely plays a part. The harder you work, more opportunities will come your way and the better your timing seems to be. Things just seem to happen when you want them to happen, and that is because you are focused like a laser on your desired end result.

Here are just a few examples that come to mind. Normally I write my blog posts at night and post them first thing in the morning, however last Friday I decided to write and post in the late afternoon. What happened was surprising, normally I get a few hundred hits per article, this one got 33K hits. I did not do anything different other than post in the afternoon rather than the morning. I chalk it all up to timing. Another on a personal nature, on May 11th 1993 I switched shifts with a co-worker at the YMCA Halifax where I was working as personal fitness instructor at the time.  I had done it before and did not think anything of it, however this time the result was different as I ended up meeting my wife. Their loss is my gain. Also this time last year AIG (American International Group) was quickly on on the way of becoming a penny stock, then the government intervened and and today it closed at 48.56, if you bought this time last year, then you had great timing!

Now you may be wondering how this all is relevant to finance? Well in the world of finance, the prices of stocks are constantly changing, as well as the foreign exchange markets and the yield on bonds. It’s this last item that will be important to you, as the yield of bonds determine the rates on most mortgages. Normally I do not talk about mortgage rates on my site, however it is important at this time as they have fallen to a point that you should be paying attention. If you are a home owner or plan on being a homeowner, the timing is great for you. Current 5 year fixed rates are now below 4% and variable rates start at 2.5% *(for those who qualify). A homeowner with a mortgage, a car loan, credit card or other loans could save hundreds or more each month by taking advantage of the current rates. Please contact my office if you have any questions. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.