Tag Archive for: Mortgage solutions

Apathy

Apathy, learned helplessness or give up itis, it’s all the same. It is when we have determined in our head that we can’t do it so why bother try. This in my mind is the one true pandemic in our society. Giving up on our goals and dreams without realizing that we were so close to achieving them in the first place.

Parents don’t give up on their children when trying to teach them to walk or talk, yet we give up on ourselves after just one or two failures or setbacks. There is a good chance that if you are married or in a long term committed relationship that you are not with the person with who you had your first kiss. You handled the ups and downs ( no pun intended) of relationships and kept at it till you found the perfect person for you.

However our society is littered with people who have given up in one way or another. The past high school or university athlete who now as an adult is vastly out of shape but has simply given up trying to lose weight. That person working in an office cubicle who started their career with so much enthusiasm and now just puts in their time. The person who is renting when all their friends and co worker are now home owners and paying less in mortgage payments than they do in rent.

Sure those situations suck but there are countless stories of people who have not given up and gone on to great success. The person who lost a hundred pounds or more and is now in the best shape of their life. People who have gone bankrupt and now multi millionaires cause they did not lose faith in them selves. Last but not lease the young people who have been able to purchase properties in their 20’s and I have helped many of them.

The cure for all this apathy, helplessness and give up itis is to know that what you are doing is making a difference. Your vote makes a difference, the smile you give someone in the morning makes a difference, putting down the sweet makes a difference, making the call makes the difference. Know that it all matters and that you can do it.

“If you are going through Hell, keep going.” Winston Churchill

Today I am thankful for the fact that I have picked my self up so many times after I have failed, the lessons that I have learned from those who have gone before me and my son who is now reached his first milestone birthday.

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

Market Place

Just this past week CBC Marketplace did an episode on mortgage fraud. To me it showed the lengths that some people would go to get a commission as the instances he demonstrated were initiated by the realtor in cahoots with a dishonest mortgage broker/bank mortgage specialist.

Just so everyone knows we are in a 100% commission business so we get compensated when our files close. If you are ever in a situation where someone in our industry ( realtor or mortgage) tries to show you a short cut then run in the other direction. I don’t personally need a commission bad enough that I would jeopardize my 20 year career.

I also want to offer a little clarity on fee’s. Yes there are times when it is necessary to charge a fee to successfully complete a mortgage transaction. However the majority of fee’s I charge are success fee’s, which means that the fee is only charged when the file has funded ( on alternative & commercial files). The other instance is for a complicated commercial file where a nominal fee may be charge upfront upon signing the fee’ agreement so the file can be prepared for the lender. That’s it, so if someone says they can help you but wants to be paid a substantial amount upfront then that is a clear sign to go the other direction.

Today I am thankful for the people in my industry who are honest and hardworking, CBC Marketplace for doing a great job on sensitive topic and that my referral partners and clients a top notch honest people.

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

Don’t Cry

Let me explain that further, don’t cry over spilt milk. More precisely don’t hold on and get upset over your past mistakes. We all make mistakes, learn from them and do your best not to repeat them and move on. This does not matter if it’s a mistake in your relationship, a mistake at work or something else. Nobody is perfect so learn from it to the best of your ability and move on.

Beating yourself up over something that you regret that you did does not help you today. Apologize if it’s possible, learn from it and move on. I was inspired to write this today as I had a service shredding some ancient documents and I made the mistake of not looking through a box more throughly and out went a bunch of personal memories from University Laval. I spent some of the best years of my life there but that was now 30 years ago and a lot has changed for me since then including marriage and 3 kids and a busy business. So getting upset over my stupid mistake does not help me any so it’s best to move on.

Today I am thankful for a having my girls home from Queens’ for their reading week, the photo album I grabbed before it was shredded and the happy memories of times long ago.

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

Market Mimic

Canada and the United Stated are pretty much joined at the hip economically. Whatever happens to our neighbours can soon be mimicked in our economy. So while their overall inflationary rate decreased to 8.2 in Sept from 8.3 in August, when you take out the two largest contributors which are energy & food you get core inflation which is now at 6.3% or the highest rate since 1982.

What this means is that the central bankers are pretty much locked in to rate increases in Nov & Dec. Predictions at this point at 75 basis points for each, however sometimes we don’t know the result till it actually happens. So as I have been saying in my recent posts, it’s time to tighten your belts and reign in your excess spending so you can limit the effects of the impending recession.

Just so you know for some reference, when core inflation is stabilized it is running just over 2%. We have a ways to go to there and most economists are predicting a bumpy road to get to that desired result.

Today I am thankful for a great week home with my girls, an energizing garage workout this morning and finding common ground with a new contact immediately upon meeting.

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

Recession Proof

With all the talk about an upcoming recession in 2023, now is the best time to prepare for the effects of a shrinking economy. While there may not be much you can do to influence the overall economy, there is plenty that you can do to influence your own personal finances.

  • Make sure that you have an emergency fund of at least 90 days of your personal expenses in the event of employment interruption. The best way to do this is to be using YNAB.
  • Sorry to those who work in restaurants & hospitality, but cut back or eliminate unneeded trips and meals out.
  • Trim back or eliminate streaming services that you no longer use, sorry Netflix.
  • Workouts at home were all the rage during the lockdown and may soon be again once people cut back on time spent at the gym.
  • Keep your credit score high by making sure that all your obligations are paid in full and on time.
  • Diversifying your income by taking on a side hustle if possible
  • Keep your debts to a minimum
  • Update your skills so that you are more desirable in the workforce
  • If self employed then 10X your efforts to grow your business by radically increasing your prospecting and client management.

We don’t all feel the same effects of an economic downturn, but if you’re prepared then the effects will be much less severe on you personally. The economy is constantly changing and a downturn next year may also be followed by economic growth the following year. Be prepared for the changes ahead so you can adjust accordingly.

Today I am thankful for the 5K run with my neighbour when I really didn’t feel like going, that my wife is an amazing home cook and that some of the best food I have ever eaten was here at home.

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

Spoiled Rotten

We have been spoiled rotten with the rock bottom low interest rates that we have had for the past 15 or so years. I am reminded of this fact now that the five year discounted rate is 5.14%. However this sill pales in comparison to high rates of the mid 80’s at 16 or 17%.

People keep asking me when do I see rates coming back down. Well if you listen to the central bankers like Tif Macklem who is the head of the Bank of Canada, it’s going to keep going up before it comes back down. This is because our overall inflation rate is till too high. With the last monthly report from August which had us at 7%. Yes it is coming back down from it’s record high this summer, it’s just not coming back to earth fast enough.

All this means that we will have to suffer out with higher interest rates until the inflation rate comes back down. So the sooner we can reduce our spending, the less action the Bank of Canada will have to take to force us to tighten our belts. Buckle up, it may be a bumpy ride for the next 6-12 months.

Today I am thankful for a trip to the valley with my wife and daughters yesterday to celebrate their birthday, having them home during their reading week from university and the perspective that things are not as out of control as they were in the 80’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 (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

My Miracles

Exactly 18 years ago today my two little miracles came into this world. My girls Ella & Georgia were born today 18 years ago at 08:41 & 08:42. When they arrived 11 weeks early at 29 weeks gestation, they were 2″11 and 2″13 respectively. As they were quite pre mature the first few days and weeks were very anxious as it was going to take miracles for them to get through and make it. Fortunately they did and are now no worse for ware.

As they were born on Thanksgiving Monday in 2004, they have continued to be something I am thankful for each and everyday. If you think about it, we all have miracles in our lives. You just have to appreciate everything that you got through that allowed you to get to this very day. My Mom who passed away from breast cancer in sept of 2005 used to say that every day above ground was a good day. So it’s best if we appreciate and are thankful for everything in our lives as it makes life that much better.

Today I am thankful for my two little miracles who are now in their first year of university, the positive frame of mine that my mom always had and for the excellent NICU care they received at the IWK.

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

Ella Sawler
Georgia Sawler
Georgia @University
Ella @University

R&R

I love the slower pace and the chance to rest and relax that holiday’s bring. This weekend is a great time to get the extra yard work done before the weather turns too cold. Sleep in and not have to worry about traffic or work. Also a great time to sit back and enjoy a good book. I know what I will be doing, so enjoy yourself 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

Giving Thanks

As we move closer to Thanksgiving here in Canada, it’s the perfect time to reflect on all the things that you are thankful for.

  • I am thankful for my girls coming home from university
  • I am thankful for my cousin who is able to pick them up from the train stain and guide them through the in’s and out’s of the airport checkin
  • I am thankful for a neighbour who was able to help me move a heavy filing cabinet
  • I am thankful for all the great conversations I have been able to have with my referral sources lately
  • I am thankful for my health and i’ve realized that it’s important to invest in it daily
  • I am thankful for all the amazing things that my wife does to make this weekend perfect for everyone.

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

Fight against inflation

Yesterday the Bank of Canada governor gave a speech to the Halifax Chamber of Commerce. He said that even though core inflation started to come back from it’s all time highs, prices on food and other items are still at all time highs. As a result he said that we should expect further rate increases as more work needs to get done to further tame inflation.

What this means for you and me is that we will have increased borrowing costs until inflation finely comes under control. Those of us on variable interest rates will increases as will those with home equity line of credits. The main goal of all the rate increases is to get us to reduce our spending, thus lowering demand and then prices will start to come down.

The rampant need to travel post lockdown has been like gasoline on a fire which has further pushed inflation upward. Yes it sucked being stuck at home not being able to dip our toes in the sand some place sunny, however the resulting inflation from all the demand to travel, buy new vehicles and new homes has caused us to experience inflation that we have not seen in over 40 years. Whether we want to or not, it’s time to tighten our belts and pull back some of the discretionary spending before the overall economy spirals into a recession.

Today I am thankful for the daily motivational texts my buddy in Montreal sends me each day, that my girls will be home tomorrow for a week and for all the great conversations I am having as a result of my increased prospecting calls.

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