Tag Archive for: Halifax Mortgage Broker

Last minute

Just like there are always last minute Christmas shoppers there are also last minute requests for financing before the lender, brokers and lawyers take a break for the holiday’s. While Christmas is now less than 10 days away, there is only 6 full banking days and two half days left before we complete 2022.

So if you are still hoping to close in 2022, you may have missed your chance. Any files in now are looking to close the 5th of January 2023 at the earliest. Also Keep in mind the dates on your contracts as I had to send one back this morning that had a condition date of January 14/2022 instead of January 14/2023.

The only sources who could possibly close before the end of the year are my private lenders. To get this accomplished however we would need a complete file including appraisal to make it happen. Otherwise let’s plan for next year.

Today I am thankful that I have my cousin in Ottawa who can take in my daughter since her flight was cancelled due to the snow storm, for having some of my mom’s favourite Christmas music stuck in my head today and that it’s beginning to feel quite festive around my house.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

No Show

I have learned a lot about business and people in my 20 years of doing this business. When I started I used to drive across town to see people who wanted to meet with me. Only to have them either not show up or not ready to start the process because they didn’t qualify.

While I still love working with people, I have had to put a value to my own time. As if it takes me 30-45 min to get across town to meet with someone who doesn’t show up or qualify then that time could be better spent staying in my office. This is why I prefer to have the initial meeting either over the phone or virtually through the computer.

We still get to have the same conversation but it will also allow any in person follow up meetings to be more effective. I will know that you are serious, that you qualify and can also tailor fit the conversation to the clients needs and requirements. This all boils down to the fact that the one thing that we will never have enough of is time and I want to make the most of the time I have and use it the most effective way possible.

Today I am thankful for clients who didn’t show up for virtual meetings as this saves me from driving across town for the same result, that we can always make more money but we can’t make more time and the extra 45 min of sleep I got this morning by sleeping through my alarm.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Over Cautious

During the holiday’s it also time to be over cautious about your credit card account(s). Most banks these days have notifications or warnings that they send you messages if they notice any unusual activity. This may be the season of giving but it is also the season for scams and fraud. So keep an eye on your accounts and notify your provider immediately if you notice any unusual activity.

Today I am thankful for a call from my bank to tell me that my wife was buying my Christmas presents, that my girls will be home soon from university and that the unusual activity on my account was just a purchase done with a retailer not Amazon or Apple.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Focus

At each and every moment we get to chose to focus on something that will move us forward to or something that will hold us back. Sure it could be scare or it can also be exciting, it’s your choice what you want to focus on. At the end of the day ultimately we get what we focus on.

Watching too much of the news or spending too much time on social media will just leave you frustrated hearing about war, the economy or how much fun influencers are having on their vacation. Turn it off and live your own life, focus instead on making a difference in the one life that you can control, your own.

Focus instead on what you can control which is your focus, your effort and your attitude. Everything else is outside your control. Get clear on where you want to go and start with the task at hand. The best way to do this is one day at a time, Rome wasn’t built in a day and you can’t change overnight. With dedicated focus anything is possible.

Today I am thankful for knowing someone who can fix my daughter’s phone, that all the retailers that I shopped at this year had online ordering and more World Cup action today.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Better

Just incase nobody has told recently, you’re better than anyone. Better than all the rest, anyone that i’ve ever met. You’re simply the best. This Tina Turner song played during my Peloton workout and it was the perfect start to the day.

This is what I texted my daughter this morning who is in the middle of her exams at university. Sometimes all is takes is someone to believe in you when you don’t even believe in yourself. If this is you, know that whatever you are going though it is only temporary and I believe in you and that you can do it.

So put on your headphones and crank up a feel good song like this one and shake off all your troubles. Now does’t that feel better?

Today I am thankful for FaceTime that allows us to be close to our kids 1400 km away when they really need it, that within a week they will both be back home and that signing at the top of my lungs when nobody is home is an awesome feeling.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Weigh your options

With the most recent move by the bank of Canada, it may be time to look at the age old dilemma of fixed vs variable mortgages. Sure over the past few years it made mathematical sense to take and stay with a variable rate mortgage. However the tides may have turned and it is an ideal time to look at this again and see if the numbers favour fixed or variable.

Currently the prime rate is at 6.45%. If your mortgage is insured ( CMHC, Sagen or Canada Gurantee) you will have a discount to prime of between .90 to 1.10 depending on the lender and when you took it out. This will put you around 5.45% for your current mortgage which is now above the 5.25% stress test rate that you qualified when you took out the mortgage.

So depending on your lender you may be able to switch to a fixed rate which would be much less than staying with the variable. So if that is the case then the math will work in the favour to switch. However some of the big 5 banks only offer the discounted rate at the start of the term and in those cases to switch out of variable will have you paying more. Do the math and see what makes the most sense to you.

Today I am thankful for all the birthday wishes from my kids, my family and my friends, a great workout to start the day and all the opportunities in front of me.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

The day after

The day after a big breakup, a job loss, a death in the family, a huge project collapsed or another rate hike. What do we do that next day? We just get up and continue to move on. Shit happens to everyone, it is how we deal with it the sets us apart. There is no sense doubting yourself with would have’s or could have’s. You can’t change the past but you can learn from it so you can change the future.

The faster you learn and recover the better you will be. The only thing constant in this thing called life is change and the better that we can adapt to those changes the more successful we will be. Sure it sucks but if you can take a few minutes and look back at all the challenges that you have overcome then you will realize that this is just another blip on your road of life.

Just know that you can over come this challenge. It’s the challenges and failures in life that teach us the valuable lessons. We don’t learn when it all goes well the first time, so consider this another lesson along the road of life long learning. Take a few minutes and cry in your beer if you have to, get it out of your system and move on. Babe Ruth was the greatest player to ever play Baseball but he also struck out more times than anyone else. So dust yourself off and get back to the plate.

Today I am thankful for the immediate lessons learned from a project collapsing yesterday, that my daughter bounced back form poor performance on a calculus test to acing the next one and discovering a new book about the greatest player to play the game.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Interest Rate Hike

Well the Bank of Canada met this morning for the last time this year and hiked the overnight interest rate by 50 basis points or a half a percentage point. This means that those with variable rate mortgages and home equity lines of credit will have to pay more to service the debt.

This is as a result of our staggering high inflation rate which is currently sitting at 6.9%. Although it has come down in recent months from the high of 8.1% back in June, it is not coming down fast enough or far enough. The rate hike is the banks way of wants Canadian’s to drastically cut back on our spending so that the inflation rate will come down more quickly to it’s 2% target.

So while inflation has made everything from food to fuel more expensive, now the bank of Canada is making the costs of servicing our debts even more so. Cutting back on unnecessary expenses may be the only way forward to get us out of this high inflationary environment.

Today I am thankful for the feeling of muscle soreness from my workout yesterday, that this may be the last of a long series of rate increases and that the best food in the city is made in my own kitchen.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Buckle Up

So most of the economists in Canada are predicting a 25 to 50 basis point increase to the over night lending rate tomorrow. This will mean that prime rate which effects our variable rate mortgages and home equity lines of credit will also go up by the same amount.

When you know something unpleasant is coming up around the corner does that make it any easier to bear? Stand still while I punch you in the face. You know it’s coming so anxiety of the anticipation may be worse than the actual damage itself. Sure we have had our share of increases in the past year so what’s one more. You have already punched me in the face 6 times this year, so what’s one more?

So the best advise is to buckle up and prepare for the worst, if you prepare for 50 bps and it only end up being 25 bps then that’s a win. Let’s take our punishment for the sake of high inflation and carry on the best that we can. Just like low rates could not last forever, neither can high inflation. This is only temporary and we can get through it.

Today I am thankful for lacing up my shoes and going for my 1st run in a month, that all the expected pains in the past were much less than the anxiety lead me to believe and chocolate covered peanut butter balls as a post run recovery snack.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Ho Ho Oh No

It’s now the 5th of December and just 20 days from the big day for those of us who celebrate Christmas. Just one thing I want you to keep in mind as you are doing your Christmas shopping, Don’t finance your gifts. Try to use debit or cash as much as you can. Credit card debt is the gift that keeps on giving long after the initial purchase. Specially these days with rising inflation and interest rates, when you buy on credit you are essentially robbing from Peter to pay Paul.

If you can’t pay for it in full now or at least in 30 days then don’t buy it. The reason for the season is not to spend as much as you can on your loved ones. It’s to spend as much time and attention with them as possible. The money you spent or the gift you bought will be long forgotten but the love and attention that you gave them will last a lifetime.

Today I am thankful for a dog that needs two walks a day even when I don’t want to go, for my Mom who loved this time of year and my wife who made a large batch of peanut butter balls yesterday and set aside a few for the dog.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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