Tag Archive for: mortgage options

Recession Obsession

If you read any of the financial papers all the economists and writers are taking about a possible pending recession. Just like chicken little running around telling everyone that the sky was falling. If you are reading this you made it through the 2007 financial meltdown and the 2020 lock down, so there is a very good chance that you will make it through this as well.

However remember that there will be a silver lining as with every challenge there is always an under lining opportunity. So keep your eyes open and know that what ever happens you will get through this. Economies go in cycles so just know that this too will not last.

Today I am thankful for the downhill portion of my run today, classical music as the sound track to my morning and planning for my kids trip to university in the fall.

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

Make Hay

As the old country expression goes “Make hay while the sun shines”. I take that to mean that when things are going well to keep doing what you were doing to get you there.

Far too often when people experience a taste of success they invariably take their foot off the gas and decide to coast. I think that you should be doing the exact opposite. If you got in shape watching what you eat and running 25K a week then keep doing that. The same if you are now experiencing some sales success, don’t stop the prospecting and following up.

Taking your foot off the gas will just result in a dip in your progress. 5 or 10 more pounds when you weren’t watching what you were doing. Your sales will also evaporate if you don’t keep up the work.

Make the great work a habit and keep doing it even when you are experiencing some success. Set new and higher goals and push your self to the next level.

Today I am thankful for all my kids working today so my wife and I could go for brunch, time spent gardening this morning and Sunday Open Championship golf.

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

Time to celebrate

Make sure that you create time to celebrate all your important win’s no matter how small or seemingly insignificant. Progress is always made not in leaps and bounds but at one small step at a time. You can’t land a large account your first month on the job, so instead celebrate being consistent with your prospecting. The same goes for your physical fitness, if you have never run before starting with a 5K run may seem like an impossibility. Instead run for 1 min and walk for 2 until you are no longer walking.

The important thing to do is to always try to make progress. As long as you continue to move forward you will get there eventually. It’s like committing to reading 30 books a year is not that difficult as long as you continually put aside 20-30 minutes per day to read and you will achieve it.

Today I am thankful for people who stood by me when I needed some assistance ( they know who they are), beautiful weather and company for another 50K bike ride and donations for my ride for cancer.

Here is the link if you are able to sponsor 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 (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Best Investment

The best investment that you can every make is not in some hot stock, or even in real estate but it in yourself. Invest in your health by watching what you eat and doing exercise so that you will live a long and active life. Invest in your finances but putting aside a percentage of every dollar that you make, so even if you have a few rainy days you will always have funds to spare. Invest in your own education by taking the time every day to read. As little as 20 minutes a day will have you reading up to 30 books a year.

We are not a finished product when we graduate high school or university for that matter. Those who have invested massively in themselves are best prepared for anything that life throws at you. Recently life has been throwing us lots of inflation with high prices for almost everything we need in life. Change is the one constant in life and by investing in yourself you are best prepared to deal with all the changes.

Today I am thankful for clients closing today, the excitement of the tour de France yesterday and the cool nights that have accompanied the hot days recently.

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

What does it mean?

Yesterday for the first time a very long time ( 26 years in-fact) the Bank of Canada raised the key overnight lending rate by 100 basis points or 1 full percentage point. As a result the bank prime lending rate is now 4.7%.

Many of us are now waking up this morning asking what does this all mean and how will it impact me. Firstly if you have a variable rate mortgage your payment has now increased. Those with lines of credit their payments have also increased. Basically if you are looking to borrow money it has now become more expensive. The days of cheap/free money are now officially over.

The Bank of Canada has made these moves in an effort to bring inflation which is now at 40 year highs under control. In-fact just prior to the BOC making the policy announcement yesterday the American CPI numbers were released and they hit 9.1%, which is another 40 year high. Inflation has been driven up by the Russian invasion of Ukraine, consistent supply chain issues and continued Chinese lockdowns.

What the BOC is looking for is for consumers to spend less, thus driving down demand. However if the spending stops too quickly it will just drive us into another recession. Only time will tell how this will all work out but with these rapid increases of rates things may come to a halt pretty quickly.

Today I am thankful for appraisals coming in just in time, the arrival of the warmth of summer and Alpe D’Huez stage of the Tour de France 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 (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

BOC Rate Announcement

The Bank of Canada meets today and will publish their latest policy on interest rates. Most economists are widely expecting a 75 basis points increase similar to what the Federal Reserve did in the US just recently. If this does happen it will be the largest rate increase in over 26 years. Which many believe is required to finely bring our sky high inflation under control.

With the announcement today that the US CPI numbers just hit 9.1% for June which is a 40 year high, it is almost assured that we will have an oversized rate increase.

Well the BOC just exceeded everyone’s expectation by increasing the overnight lending rate by 100 basis points to 2.5%. This as a result will increase the prime lending rate from 3.7% to 4.7%. So those with variable rate mortgages or lines of credit will have their payments increased for the next month. In the policy announcement they BOC stated that CPI has remained high ( in the 8% range) due to the war in Ukraine &supply chain issues that have yet to be resolved.

In the published announcement BOC indicated that this may not be the last of the rate increases and it will depend on the state of the over all economy and how inflation reacts to these changes. The next scheduled meeting is September 7th.

Today I am thankful for my daily motivational quotes my friend Shane sends me on a daily basis, a hill run when I didn’t want do it and date night with my wife last night.

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

The Big Reveal

It’s the moment you have been waiting for, the new hairstyle or outfit, the reno’s are complete or my case today my son’s braces came off. It is all about the big reveal, the before and after pictures, the years of waiting, the big day has finely come. Sometimes transformations can appear to happen instantly so make sure that you appreciate every stage of life. If you don’t pay attention the special days will pass you by.

Today I am thankful for the fact that my son got his braces removed today, that we can now focus on paying for our kids university instead of their orthodontist work and that the big reveal also had an awesome smile.

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

Counting the days

Big events in your life often have you counting down the days till they happen. It could be a wedding, birth of your first child, graduation or a long awaited trip. For the most part the people I am working with are counting down the days till closing on their new homes. So while you are in the final count down, make sure that you keep a few things in min.

  • Call to switch all the services ( phone, power, water & cable)
  • Book a locksmith to re key all the locks
  • Do the final walk through with your Realtor
  • Have your mover’s ready to go
  • Sign all the documents with the lawyer’s office well in advance
  • Do NOT finance anything between when your mortgage has been approved and you get the keys to your new place.
  • Make sure to get your new home insured
  • Pick up the keys from the lawyer on closing day

Today I am thankful for the mood improving benefits of intense exercise, clients who are excited to close and my daughter who was exhausted from camping all weekend.

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

Yard Work

One of the most satisfying things about being a homeowner is yard work on a beautiful summer day. There are also quite a few benefits of having a well manicured lawn & garden.

  • Great curb appeal improves the value of your property.
  • An assortment of flowering plants and shrubs provides plenty of pollen for bee’s.
  • Gardening is great exercise
  • We have all spent way too long inside during the pandemic and gardening on a nice day is a great source of vitamin D
  • Gardening is also great stress relief

Today I am thankful for such a beautiful day to get yard work done, my daughter back home after a weekend camping with friends and a good book on a nice summer day.

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

In Good Company

There are so many things in life made exponentially better with good company. Fine wine, good food, funny movies, long walks and brutal workouts. It is for that last one that I appreciate my friends who accompanied me for another 50K bike ride today.

I also use this good company approach when clients come to me requesting a private mortgage. While there are many players in the market, the ones I deal with I trust far more than the others. These would be the same ones I would go to if the shoe was on the other foot. Honesty and integrity are paramount when it comes to wanting or needing a private mortgage.

Today I am thankful for the good company on my bike ride this morning, my family who I call religiously every Friday and the most perfect day to explore Cape Breton where my daughter is with her friends.

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