Tag Archive for: Vancouver Mortgage Broker

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

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