Tag Archive for: mortgage broker

New Record

New Record

The consumer price index ( how we track inflation) hit a 31 year high for the month of April at 6.8%. Up .1% from March. The increase is a result of higher food and housing costs. The causes of this stem from the war in Ukraine and supply chain disruptions in China due to Covid. While global crude oil prices declined in April, they have vastly increased in May so we may be in for another record for the May report.

As a result of the record high CPI we are pretty much guranteed for another Bank of Canada rate increase when they meet next on June 3rd. What we don’t know is if it will be another 50 basis points like the last time or just 25 basis points like the first increase we had earlier this year.

So … Read more

Helping hand

Helping Hand

We have all had times in our lives where we have lent a helping hand to friends, neighbours or even total strangers. It could be as simple as helping someone carry their groceries while they wrangle their kids, helping them move, mow their lawn, build a deck or even lend them some money.

Helping someone out is always an easy decision when they are also working with you by continuing to help themselves. I don’t mean in a quid pro quo situation as that is never a reason to help someone in the first place. However what I mean is when someone asks for help but they for what ever reason have also been unable or unwilling to help themselves then that is just a bad idea.

By continuing to help someone who will not for whatever reason help themselves … Read more

Special Day

Special Day

Today is my special someone’s special day that comes once a year. What do you do for someone who always puts everyone else fist but yet says that she doesn’t need anything. This is the problem that I face today. It’s nice to surprise someone that does so much for everyone else. What could you do today for the people who love and support you to show them how much it means to you.

“The best way to find yourself is to lose yourself in the service of others.” Mahatma Gandhi

Today I am thankful for getting up early to ease into my day, getting a run in-between the rain today and my wife’s birthday and the surprises that I have in store for her.

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

Patrick

p.s- … Read more

I am Canadian

I am Canadian

Everyone remembers the original Molson Canadian ad from 2000 with the iconic I am Canadian rant. Well last night Simu Liu while hosting the Juno’s updated that rant for 2022. Here it is for your viewing pleasure.

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 hereRead more

Preaching

Preaching

I just wanted to start off by apologizing if any of my posts come across as preaching. The truth is that if I am writing about motivation then it is because I have found that I needed motivation. The same can be said if I am writing about habits, personal relationships or mindset.

My daily blog posts are also somewhat of a journal for what is happening in my life at the time. I find that writing it down and sharing it very therapeutic. So if anything resonates with you then that is fantastic, if it doesn’t that is fine too.

What lead me to write this today is that over the past year and a half I have been dedicated to reading more and more. While I have primarily read non-fiction I have also enjoyed a few fiction titles … Read more

Rusty

Rusty

Whether we would like to admit it or not, we all have good habits that have gotten a little rusty. It could be a regular exercise habit, healthy eating, staying in-touch with family or doing your follow up at work. What ever it is, if left idle long enough it will come back and bit you in the butt for not doing it.

However once you pick them back up again, you should be able to get back on track very quickly. I had my 1st outdoor bike ride of the year today, mostly because up until today it had just been too cold to go out when I wanted to ride. It wasn’t that I stopped riding as I normally did 3-4 sessions a week on my spin bike but it’s not the same as riding outside.

What have … Read more

Friday the 13th

Friday the 13th

Those who are superstitious believe that the number 13 is unlucky and that Friday the 13th is extremely unlucky. However I am of the belief that we make our own luck, superstitions be damned. The harder we work and the more that we focus on the outcomes that we want the luckier we will become. Nobody ever became successful because of luck, they did it because of the hard work they put in allowed more opportunities to present themselves.

Calling someone lucky just discounts all the work that they put in to get to where they are now. It is the same as just calling kids smart when they get good grades, it discounts the work that they have put in to get those good grades. These are both reflections of a fixed mindset as Carol Dweck talked about in … Read more

Mix it up

Mix it up

You can’t do the same things day in and day out and expect to constantly make progress. It has been said that the definition of insanity is doing the same things repeatedly and expecting a different result. So we all need to mix things up in order to make some progress in our lives.

For years and years I followed the same bodybuilding style of physical fitness training with little to no improvement in results. It was not until I discovered or was introduced to Crossfit with it’s constantly varied training program that I started to make some real progress.

I think the same applies to today mortgage market. If you have always gone 5 year fixed rate, maybe now might be a good time to mix things up. I am not saying to break your contract if you are … Read more

Cost of Living

Cost of living

I drive a mid sized SUV, a Nissan Pathfinder to be exact. As I have 3 kids and a large dog, we needed the room. However this past weekend I filed it up and for the first time ever it cost me $117 to go from low fuel light to full. While not that long ago in the heigh of the pandemic it cost less than $50 to fill it.

It’s not just gas that is going up, food, new and used vehicles, clothes and what in all the headlines is the cost of real estate. While the April CPI index has not been released yet, I think it may be safe to say that we may be in for another month of high inflation. As a result the bank of Canada has been increasing the overnight lending rate which … Read more

Greedy & Fearful

Greedy & Fearful

I love that Warren Buffett quote “Be fearful when others are greedy, and greedy when others are fearful”. While he was mainly talking about the ups and downs of the stock market it could also apply to the housing market as well. The past few years have been a boom for people selling real estate as almost every sale went for well above the asking price.

However things may be about to change. Interest rates have climbed dramatically in the past 3 months, with the variable up by 75 basis points and the fixed up over 130 basis points over the same time period. As a result the market in Toronto has cooled by 27% vs the same time last year. While I don’t think that this will shift to a buyers market it may end up levelling the playing … Read more