Tag Archive for: Mortgage solutions

A Simple Thank You

In a close second to being loved is being appreciated. It’s an amazing feeling when someone tells you out of the blue how much what you said or did meant to them. Who needs artificial mood enhancers when you have honest and sincere appreciation.

If you have not been on the receiving end recently, you can try your hand at giving some out. It’s amazing how well you will feel. Giving a simple thank you to someone may just make their day, and who doesn’t love that.

I do a lot of calls, some people I reach and others I just have to leave a message. Someone that I had only spoken with one time but left a few messages called me yesterday and told me how much he appreciated me calling. The little things do matter and as a result I was on cloud nine yesterday as it felt good to be appreciated.

Today I am thankful for the call out of the blue yesterday to say that he thought I was doing a good job, the amazing people who showed up quickly to remove some junk from my garage and having more space for my workout gear even if it’s in an unheated garage.

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

Take your lumps

Well the Bank of Canada gave us our lumps yesterday, another rate increase of 50bps. It’s our medicine and we have to take it so we can start to win this war against inflation. The increase wasn’t as bad as many had expected, I don’t think that it was due to any outside political pressure but the fact that the inflation rate has been dropping. It is just not shrinking as quickly as the Bank needs it to as it is still quite the distance from the 2% target.

While it is true that many people survived the lock downs with much higher cash reserves and then went out and bought new homes and new cars and went on vacations. While so many did this it created a market frenzy and drove up prices on homes, back orders for vehicles and long lines at airports and passport offices. While much of this is now over, the results of all this activity which is prolonged inflation is still hanging with us.

The sooner that we can take our lumps and reduce our discretionary spending the faster the inflationary rate will return to normal. The truth is that spending money is so much easier than saving it, as we don’t get the same feeling when we are cutting back and saving as we do when we are putting the key in the door to our new home or driving off the lot with our new vehicle. However the satisfaction we will get when we all do our part will be worth it.

Today I am thankful for the run that was completed when I really didn’t want to do it today, lenders that go the extra mile so we can make things happen for clients and a little pain today for a long term gain.

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 Fine Print

The Bank of Canada will come out with their latest interest rate announcement at 10am eastern or 11am here in the Maritimes. While many of us are expecting at least a 75bps increase to the overnight lending rate, the real meat and potatoes will be in the press release from the meeting.

The devil truly is in the details, as the fourth quarter monetary policy is also announced today. The Bank will give details on whether it thinks that the current and past rate increases are doing what they were supposed to do and if more are necessary. While it is true that the overall inflationary rate is decreasing, it is just not coming down fast enough. It decreased by .1% to 6.9% this month, while the target rate is 2%. We still have a ways to go to get there.

Many economists are predicting a recession for 2023 and more rate increases will defiantly be pushing us in that direction. What we don’t know is the length or severity of the pull back to our economy and other major economies as well. We need to proactively cut back our discretionary spending before spending cuts and job losses are thrust upon us. What the Bank of Canada is doing is beyond our control but whether we decide to eat out or make supper at home is totally up to us.

Today I am thankful for the chance to connect with friends that I haven’t spoken with in months, new connections with new idea’s to improve my effectiveness and helping people see the best way forward.

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

Only downside

The only downside to being self-employed is having to work when you don’t feel 100%. The dreaded man cold has hit my house and yes I am still working. Work still needs to get done even when I don’t feel like working. Being irreplaceable is a double edge sword.

I have done conference calls from a hospital bed and closed files with a 103 degree temp, so a cold may make me feel like crud but it won’t stop me from helping my clients.

Today I am thankful for a huge supply of cold meds in my house, that the sniffles and head cold are a minor inconvenience compared to what others are going through and that my office is such a short commute.

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

Expectations

Does the expectation of an unpleasant event make the experience worse? Does the boxer feel it less than the guy who got sucker punched at the bar? Having emergency surgery any less painful than the one that has been planned months in advance? Getting let go from your job that you have worked at for years any less painful than suddenly quitting?

The economists have been talking the impending rate increase by the central bankers since the last big one in September. Will this make it any less painful if we expect at 75basis point increase vs it coming out of the blue! Will we feel any different about a recession if they have been talking about it for months?

Either way it will be best is we prepare for the worst case scenario. Hope for the best but prepare for the worst. Start now by cutting back your expenses, fund your emergency reserve and lower your debt payments as much as possible. The anxiety and expectation of a pending unfortunate event may be worse than the event itself but it’s still better to be prepared.

Today I am thankful for the sound of the rain when I got up this morning, the ability to be able to continue to share my thoughts with you and the opportunities of a new week ahead.

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

Plan Ahead

Now that my annual filing is complete for my license here in NS, it’s time to shift the focus from the past and plan for a prosperous future. That’s not to say that the past year wasn’t good, it was, however like with anything in life the goal is to constantly improve.

The standards that the province put into place last year gave me a view of my business that I had not seen before. It was both startling and eye opening. It is sort of like when your doctor asks you to step on the scale during your annual check up. Part of you wants to know and part of you doesn’t.

The best way to plan for changes ahead is to get an accurate picture of exactly where you stand. You want to make more money then you should know how much you currently make, want to spend less then you need to know how much you are currently spending, want to lose weight then know what is your current weight, you want to improve your business then know exactly where you stand today regarding your current sales & expenses.

Knowing a clear picture of where you stand today is half the battle, then it’s up to you to decide how much you want to improve and be dedicated to the work that is required to get there. You can’t improve what you can’t measure. This is why I like digital marketing, you know exactly where your clicks or leads come from compared to your ad spend. You can’t get that from a billboard or a bus sign.

Today I am thankful for my persistent friend who got me out for a bike ride today, the four hours I spent yesterday getting my annual filing complete and receiving confirmation that I am now approved and ready to go for another year.

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

TPS Reports

If you have every watched Office Space you know the scene where to boss keeps asking for the TPS reports. Well putting it off or doing it poorly never helps you in the end. This is why I will be spending my weekend doing my equivalent to the dreaded TPS reports which is filing my annual return for the local licensing body. Wish me luck.

Today I am thankful for having a great CRM that keeps track of all my important data, a strenuous but somehow relaxing 60 minute peloton workout this morning and hearing from my girls via FaceTime.

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

Self Love

According to my Peloton instructor Ben Alldis who said this morning ” Self love is never selfish”. We can’t take care of others unless we are taking care of ourselves. Our mental health is just as important as our physical health and from my own personal experience if I am taking care of one, then I am also benefiting the other.

You see I have experienced anxiety for as long as I can remember. My mom used to say that I worry too much and my Dad would say that I was stressed while my friends would say that I was too uptight. Whatever the label it was all the same and many members of my family from my Dad to now my daughter experience it as well, and so may many of you.

Each individual treats it’s effects differently and that’s all well and good as long as that works for them. For me it’s always been exercise, work and family. The more consistent I am with my workouts the better I feel overall. In regards to work, I find the more conversations I have with referral partners and clients the better I feel. Lastly today being Friday is they day I get to reach out and connect with immediate members of my family that I haven’t spoken with since last week. Activity has always been the key for me and the more active I am in my personal and work life the better everything will be.

“Almost everything will work again if you unplug it for a few minutes, including you.”— Anne Lamott

Today I am thankful for an intense workout early in the morning, my dog who loves his walks and so many clients and referral sources who have taken the time to speak with 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

Why?

Do you ever have those day when the first thing that you ask yourself upon waking is why do I have to get up? Then why do I have to go to work? Why do I have to eat right? Why do I have to do my workout? Why do I have to pay my bills? Why do I have to make my prospecting calls? Why do I have to pay my taxes?

If you noticed the key part of all those questions is “have to”. If this is how you are approaching life then you are looking at it the wrong way. We live in a free society, we have the power to “choose” to do whatever we want to. However we must also pay the price if it does not help us or the larger society as a whole.

It’s not your fault really as we have been conditioned to believe that “How” was more important than “Why”. This is why there are so many seminar’s, personal development programs and books pitching the latest how to lose 30 pounds, become a real estate mogul or sell your way to the top. Once you have a strong enough “Why” the “How’s” will just show up. Here are just a few ways to reframe your why’s.

  • Why do I have to get up to, I choose to as the early morning is the best part of the day and I am excited about what the new day will bring.
  • Why do I have to eat right & exercise, I choose to do these things as heart disease and cancer run in my family so by doing my part they don’t have to run with me.
  • Why do I have go to work, pay my bills or taxes or make my calls, I want a better life for my kids, I want to take the nice vacations and I know that nobody can serve my clients as well as I can.

Today I am thankful for the fact that I came up with the right answers to my why’s today, that even though I didn’t want to do my run I knew I would feel better when it was done and that almost anything is possible with a strong enough why.

“He who has a why to live for can bear almost any how.”
― Friedrich Nietzsche

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

To Stay or go?

Most of us are familiar with the classic song by The Clash ” Should I stay or should I go”. Well right now that applies to those of us in variable rate mortgages. There has been a lot of nervousness about staying in a variable rate and riding out the Bank of Canada rate announcements or bailing and going for a fixed rate.

There are a few things that you should look at if you are deciding to convert to a fixed rate.

  1. What is your current discount to the prime rate, and is the rate for a comparable fixed rate higher than what you are currently paying.
  2. Look at your mortgage statement and see if you are still paying interest & principal. If you’re not because of the recent rate increases it may be time to either increase your payments or consider the switch.
  3. Lastly it boils down to peace of mind. If you are comfortable with rate movements ( there may still be more) and you like the flexibility then stick with it. Otherwise if you are stressing about it then for your own good it may be time to convert to the fixed.

As with all the advise that I provide to my clients regarding mortgage financing, I can only provide the options for you to consider as at the end of the day it’s up to you decide what you want to do.

Should I stay or should I go now?
Should I stay or should I go now?
If I go, there will be trouble
And if I stay it will be double
So come on and let me know…… 3rd verse from should I stay or should I go which is somehow appropriate when considering your mortgage options.

Today I am thankful for the warm and windy morning, colleagues who are available to help when challenges need to be brainstormed and early morning calls from my daughter telling us about her 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