Tag Archive for: mortgage professional

Find a way

There is no easy path to success, we all encounter obstacles and setbacks along the way. It’s when we are faced with these challenges that our true character is revealed. It’s in those times that we either find an excuse for why it can’t be done or we find a way to get it done. There are no other options.

Ask any successful person or read biographies of those who have achieved massive success and you will find example upon example of hard work and perseverance to get to where they wanted to go. Innate talent is just a label those who are unwilling to put in the work use to describe those who are succeeding as an excuse for why it is not working for them. When people says that someone is talented or naturally smart they are just discounting all the work and effort that they put in to get them where they are today.

Successful people don’t just come from any one demographic, physical location, religion or ethnicity. It comes from those who have the mindset that says that no matter what happens to them, they will find a way and get it done. There are tons of people who come from disadvantaged socioeconomic areas to become successful business people, doctors, lawyers, accountants or engineers. Just like there are many who have lost weight and kept it off by a change in mindset and lots and lots of hard work. The same applies to those who are seemingly drowning in debt and have somehow found a way to crawl out of it and pay it off without resorting to means that allowed them walk away from the responsibility.

So don’t let your current situation define you. You are more than your pile of bills, your current weight or you unfulfilling job or relationship. If you need a kick in the pants to get yourself going then pick up and read one of David Goggins books and see how he turned his life around and continues to excel every day. You got this.

Today I am thankful for my dog that gets me up and out the door every morning even when I don’t feel like it, a cool crisp run on a winter’s morning and the fact that I have overcome all my past obstacles to get this far.

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

January 2023 Inflation report

The inflationary report for January 2023 was released by Statistics Canada yesterday and we appear to be doing better than we expected. The market consensus had predicted that inflation would drop to 6.1% from 6.3% in December 2022. Actually we dropped to 5.9% which was the lowest rate since last February. So while we saw decreases in transportaion & shelter it is actually stubbornly high for food prices which are still accelerating at the fastest pace since 1981, up 10.4%.

Since the weighting of shelter & transportation in relation to food is higher ( based on spending habits from 2002) is why our overall inflationary rate dropped. The market is estimating that the rate will decrease again in February to 5.2%. If this is the case it will turn out to be the lowest rate in a year. Thus proving the the BOC’s actions are causing a reduction to spending and in turn slowing down the economy.

However it won’t be till March 8th when the Bank of Canada meets next until we know whether these new inflationary numbers are enough to cause them to pause on the rate increases. So while we can cut down on travel and other unnecessary expenses it is harder to cut back on the necessities like food. With the our dualolopy of Empire Group ( Sobey’s) and Loblaw’s ( Superstore) making record breaking profits on the backs of consumers there is little to no pressure on them to relent on increasing prices.

Bank of Canada governor even said after these numbers were released that companies must start to bring down these prices or he will be forced to keep raising rates until that happens.

Today I am thankful the rejuvenating power of exercise, kind words from clients and the knowledge that when one door closes another one is sure to open.

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

Librenoodle

More often than not we create far more problems in the space between our two ears than exist in reality in the external world. Truthfully we have the capacity to create a heaven from hell however most of us tend to go the other way around!

Librenoodle is just a play on words meaning that sometimes we just need to get out of our own head and out of our own way to make things better. Stop imagining the worst that could happen and instead focus on what is happening right now. The future has not happened and the past is gone.

During the day off yesterday I watched some travel bike packing video’s. In one of them a woman from New Zealand said that some days could be bad but they would not be 100% bad and that by focusing on that 1% then everything else would be all right. What a beautiful way to look at life.

Today I am thankful that my wild child is home for her spring break from university, that my son had a great basketball tournament over the weekend and that my eldest child is enjoying her spring break with her friends at University.

Things are never as bad as we make them out to be. We need to experience each moment as it is and also focus on where we ultimately want to go. We are driving this car called life and it’s not best to go around aiming at tree’s.

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

Update to Foreign Buyers

Two weeks ago I wrote about the new ban on foreign buyers here in Canada. You can read about it here. As new clarifications are coming out almost daily, here is an update based on what I have learned from my underwriters.

If you do not yet have your permeant residency status then you will need to provide your past 3 years of tax returns in order to get approved or pre approved.

Also we talked last about the area’s ( metropolitan and large centres) that you could not buy if you were brand new to the county. In the census data they are referred to as Census Agglomeration (CA) or Census Metropolitan Area (CMA) area’s. To see if the area that you want to purchase is outside of a CA or a CMA, then just click here and follow the steps.

If the property being purchased falls outside of a CA or CMA, then the new temporary resident guidelines DO NOT apply.  A temporary resident can purchase a property outside of a CA or a CMA without requiring three years employment history and other applicable requirements. 

Please click here to determine whether a property is located within a CA or CMA.  Please follow the guide below to determine whether the property is located outside, or within a CA or CMA.

Step 1: Identify the location of the subject property in the mapping tool. 
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Step 2: Determine whether the searched area falls under a Census Agglomeration (CA) or a Census Metropolitan Area (CMA). 

Example 1:

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Example 2:

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Example 3:

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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

Commercial Mortgage Expert

If you are running a business then there is a good chance that you have an accountant to help you with your financials and your tax filings. You also have a lawyer who created your partnership agreement or created and filed your incorporation documents for you. You may also have someone doing your marketing & social media work.

This is all because that you should focus on what you do best which is running your business. So when it comes time to expand and grow your business and you need to purchase a commercial property to run it then you need to have us help you with your commercial mortgage.

We have years of experience in assisting clients obtain their commercial mortgage. We help you stream line the process so you can continue to focus on what’s important which is running your business. So it doesn’t matter if you are in the initial planning stages or finely ready to commit to you project, please contact us so we can help you make it happen.

Today I am thankful for having the opportunity to watch Wrexham play in the FA Cup yesterday, discovering and reading autobiography’s of people who really made a difference and having my daughter FaceTime me just to talk about music that we love.

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 best time

So many people make the mistake of thinking that the best time of their lives was their childhood or it will be when they finely retire and don’t have to work any more. Nothing could be further from the truth than that as the best time of your life is always now. We don’t know how long we will get, so it’s best to make the most of every moment of your life.

Clients have always asked me when is the best time to buy a house. I always tell them that the best time to buy is always now. If it will be the roof over your head, rather than a speculative investment then it’s always best to buy now. I always follow up by saying that as long as it is your intention to live in it over the long term then it is always best to buy now.

So get your head of the past or your dreams of the future and start realizing just how great today is. The present truly is a gift and it is about time that we all wake up and realize that. Don’t wait till XYZ happens before you decide to do that thing or to finely be happy. Do it now and decide to be happy today, as you never know how long you truly have.

Oliver Burkeman wrote his book “Four Thousand Weeks” as an illustration on the average lifespan. Sadly we don’t all get four thousand weeks, my Mom who passed away from cancer in 2005 didn’t, and many many other don’t. So make the best of the best time of your life, which is now.

Today I am thankful for our dog Augie who brings so much joy to our lives, appreciating the little moments cause at the end of life they are all that matter and new perspectives from new books.

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

Rate Announcement Jan 2023

The Bank of Canada did what many had predicted by increasing the overnight lending rate by .25% or 25 basis points. However it is their language in the press release that is providing some optimism going forward. This is key part “expects to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases.” They also said that they expect that CPI inflation will come down to 3% this year and back to 2% in 2024.

While nobody wanted another rate increase, at least it was only 25 basis points and that going forward they expect to hold the rates where they are unless demand on goods and services proves much more bullish than currently projected. If this happens then they are prepared to increase the rates yet again. However knowing that it does take 8-10 months for the effects of the rate increases to work their way through the system, let’s hope that this last one does the trick.

By the way the next meeting for the Bank of Canada is March 8th so mark your calendars.

Today I am thankful that this could be the last of the rate increases, a tune up from my physiotherapist what just what my body needed and my girls looking out for each other away at university.

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

Presence

Far too often we live our lives thinking of how we could change, undo or glorify events of our past. On the other side of things we also spend way too much time dreaming, planning or dreading what the future may entail. All of this is to the detriment of being present to what is actually happening today.

I write this today being fully aware that the Bank of Canada meets tomorrow. Many economists are predicting at least a .25% rate increase after 7 rate increases in 2022. The point is we don’t know what is going to happen tomorrow, next week or next year for that matter. All we can do is to master being present in the current moment and know with certainty that whatever happens you can deal with it.

The distractions of social medial play a big part in this, trying to shock or engage away from what’s really important. The thing is that we can’t change the events of our past and worrying about what may or may not happen in the future really does not help us either. So the only real logical option is to do the best we can at being present to what is happening in our lives right now.

Today I am thankful for discovering a great podcast to listen to while I workout, my dog who gets up with me at 5am and my daughter has found time to read more at university.

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

Burn your bridges

Anthony Robbins says is best when he says that “in your moments of decision, your destiny is shaped”. This is true because when you commit to a decision you essentially cut off all other options. You have decided and you are going for it. Don’t give it a half arsed effort, burn your bridges and commit fully to your decision.

When you burn your bridges you cut off any possible chance of retreat. Going forward is your only possibility so give it 100%. Far too often people want to keep their options open just to see what happens. However you end up getting nothing in return. It is far more rewarding to commit to a relationship than to just play the filed and see what develops.

One of my favourite bands The Tragically Hip said this is “No dress rehearsal, this is our life”. We don’t get another chance at this, commit fully & completely ( yes another Hip reference) and give it your all and you will be much better off in the end.

Today I am thankful for discovering new perspectives from new books, having my favourite songs stuck in my head and reaping the rewards of being fully committed and not turning back.

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

Tune-up

Just like your vehicle requires regular maintenance, so does your body and your finances. This is because what you don’t maintain and tune-up will eventually fall apart. While a lot of people love the drive the latest and greatest cars & trucks out there, there are still many who maintain and take care of vehicles that are 10-20-30 or more years old.

The same applies to your physical body. There are many in their 50’s, 60’s and 70’s who are happy, healthy and still going strong day in and day out. This is a one way trip and we have one body to take us through it so we must take care of it so we have lots of quality to our years.

As for your money, while it’s true that you can always make more unlike with time, to most it’s like water and they end up wasting it and are left with nothing. This mismanagement of money is is the root of so much stress especially in these times of high inflation where all you need to live costs more. So now more than every is is important to get a tune-up around how you deal with money, and to do that there is nothing better than using YNAB.

Today I am thankful for the quick tune up on my back by my chiropractor, that I am learning to eat when I need to rather than when I feel like it and calling at the right time to help clients talk though issues that came up.

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