Tag Archive for: Mortgage solutions

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 you been putting off for far too long, and if neglected will come back and make you pay for you negligence. My younger brother had a heart attack two years ago, he had been working too hard and neglecting his health. Thankfully he survived and is doing much better now. Don’t wait till you receive your wake up call before you shake the rust off and get back into your good habits.

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

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 her groundbreaking book “Mindset”.

Use today as an opportunity to embrace the “Growth Mindset”. Failures happen but that does not make you a failure. Just because it did not work yesterday does not mean that it will not work today. Learn from past mistakes and use that experience to help make you better and more capable going 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

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 in a 5 year less than 3% mortgage but if you are in the market right now you may want to consider looking at the 1 year fixed term or a product that has a mix of a fixed and a variable rate.

I am saying this as we are in an interest rate increasing market, but there is talk that it might not last for long. So the more flexible that you are in your mortgage product then you will be able change and adapt when rates start to come back down.

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

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 then increases the prime rate. The next meeting scheduled for June 1st will most likely bring another 50 basis points increase.

All these rate increases are supposed to curb spending, therefor reducing demand which brings down inflation. However a lot of the recent prices increases have been due to the pandemic which is still going strong and the war in Ukraine that shows no sign of stopping. So there is no guarantee that these measures will have their desired effect.

The first time in 10 years we have 5 year fixed mortgage rates above 4%. So if you like the stability that the fixed rate will provide then it will be perfect for you. For me I like the flexibility of the variable. Know your risks, and choose a product that will help you sleep easy at 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

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 field until the inflationary pressures level off.

All markets go in cycles, as long as we realize this we will make out just fine. The recent steady rise of real estate prices will not last forever, nor will the current down turn of the stock market. If we take Warren Buffett’s attitude and advice to heart and see what’s going on around us and just plan accordingly, then we will insure a prosperous future. Sell when those around us are being greedy and buy when everyone else is selling.

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

Wild Child

Families with more than one child often have one that causes them more work and anxiety than the others. When I was growing up this was my younger brother. Who broke both ankles jumping off a high wall when we were kids. Then got stuck in the tree with his cast on shortly thereafter. Was always the first one to jump and ask questions later. And now always has a story to tell.

In our family this honour would now fall to our middle child. Fiercely independent from the day that she arrived. Would never accept a punishment and always wanted to get her voice heard, irregardless of whether she was right or wrong.

It’s best to let the wild children get their energies out as both of these examples are widely successful. My younger brother is now a successful business man, now running the business my parents ran when we were kids. My fierce and independent daughter has been accepted to 5 universities for school next fall and has near perfect grades.

Strict rules are needed for some and guidelines are best for others. With love and support we will each find our own way. These same rules apply when looking for a mortgage. We have lenders with strict guidelines who will give you the best rates and terms and others who are more flexible that will cost a little bit more. Not everyone can be cookie cut into the same mold so it’s best to have options 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

For all the Mom’s

Happy Mother’s day to all the Mom’s out there. There is no job more challenging than being a mother. As a father I know this to be true as I know the sacrifices that my wife makes for our family. The other 364 days a years you are run off your feet, my sincere wish is that all the Mom’s today know how much they are loved and appreciated.

To my Mom in heaven, I am what I am because of the love that you gave 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

What you want

People want what they want, but more times than not it may not be entirely what they need. I was reminded of this fact while on a call with a commercial client recently. While they were very clear on what they wanted, if delivered exactly as requested it would not give them what they needed. This is where educating clients about future outcomes is paramount.

As a huge Apple geek, I have always been an admirer of Steve Jobs. I love his approach to wants and needs, taken from Walter Isaacson book on him.

“Some people say, “Give the customers what they want.” But that’s not my approach. Our job is to figure out what they’re going to want before they do. I think Henry Ford once said, “If I’d asked customers what they wanted, they would have told me, ‘A faster horse!'” People don’t know what they want until you show it to them. That’s why I never rely on market research. Our task is to read things that are not yet on the page.”

So with this same approach, proper long term planning around structuring commercial transactions will give clients what they want over the long term while also addressing their short term needs.

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

Back tracked

A month ago when Nova Scotia announced the 2022 budget there was in it a proposal to increase the property taxes for non resident owners from outside of the province. It appears that this change did not sit well with people who own cottages here but don’t live in NS. It went against our overwhelming welcoming attitude that we have towards people.

While we are still in the midst of a housing crisis, that proposal did nothing to fix the problem and it’s nice to see that they have back tracked this unpopular proposal. The province needs to do more to work with municipalities to fast track approval’s so project can get approved and completed faster. That is what would help ease some of the backlog on housing.

While I never voted for him or his government, it is the mark of a good leader to see the error of your ways and then reverse course when needed. You can plan and do analysis till the cows come home but if you don’t talk with the people who will be effected then that is just a waste of time. If we all work together we can move forward with ideas and plans that may work to help solve our current housing problems.

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 Long Game

In today’s hedonistic society, we want the solutions to all our problems now. We want the nip or tuck to make us appear skinny. The magic pill to make us smarter or the lottery win to make us rich.

However these are seldom if any the real solutions to these problems. The quick fix rarely fixes the problem over the long term. It’s just a tease for those unwilling to put in the work to achieve the results that they are looking for in the first place.

Look at some of the top names in Sports, Tiger Woods, Lebron James or our own Sidney Crosby. They all have tremendous work ethic. They play the long game to achieve their objectives. The quick fix is a scam to con you out of your money. Put in the time, do the reps and read the books and you will get there. Probably not overnight but by putting in the work you will continually make progress towards your goals.

See clearly where you want to go and plan your steps accordingly. Nothing worth achieving comes easy, it requires blood, sweat, tears and work on our parts to make it happen. Stop looking for that fast pass to the front of the line, it’s what you learn along the way that will insure your transformation sticks.

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