Tag Archive for: Vancouver Mortgage Broker

Peak Inflation

The US inflation numbers came out yesterday and it showed that inflation has started to come back from it’s high of 9.1% in June to 8.5% in July. So this has many of us hoping that we have hit peak inflation. Most of the reduction stems from gas prices coming back from their highs in June. The month over month prices of good and services were flat with a 0% change from June to July and this is after hitting a 17 year high in June.

So while this is positive news, the true indication will be where the numbers go for next month. Will this report be just a fluke or a true indication that inflation has started to reseed from it’s highs. If this is the case will bond yields come back down and bring the fixed rates with it? This has already started as rates are now about 1% off of their June highs but is there still more room for them to come back down. How will all of this effect the central banker stance on the over night interest rates?

So let’s take the good news out of the US with a grain of salt for now and see how the Canadian numbers look when they are announced next week. However the true test may be when the Bank of Canada meets on September 7th to discuss the overnight lending rate, which if you remember the last time they met in July it went up by one full percentage point.

Today I am thankful for the fact that the repair work on my office is almost complete, my girls are getting excited to start their university education next month and that the humidity has left us for the time being.

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

Compliance

compliancekəm-plī′əns

noun

  1. The act of complying with a wish, request, or demand; acquiescence.
  2. Willingness to follow a prescribed course of treatment.
  3. A disposition or tendency to yield to the will of others.

In the mortgage industry compliance is a necessary part of business. On one side it is about doing what is right for your clients and on the other side it is about adhering to the rules and standards as set forth by our local licensing body. It’s not just a cool song by Muse.

I see my role with clients similarly to how a fiduciary would act in the financial planning field. That means I work for the clients to help them secure the financing that makes the most sense to them and as a result of a job well done I receive compensation as a result. Those who put clients in products or services as they will receive more commission are not acting in the clients best interest.

Full disclosure for me with clients means they know the details about the products, if it I a fit and my potential compensation. Yes this is a business, but by working for the client the commission only comes as a result of a job well done.

Today I am thankful for a great conversation with an old friend, some new financial advice from my investment advisor and lunch with my son 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

Surprise Visit

Would you be ready for a surprise visit to your home if someone showed up unexpectedly. It could be CRA, the local police or heaven forbid your in-laws. I always advise clients when an appraisal is necessary to have your home prepared as if you were having an open house as it will show pride of ownership.

So look around your home now, are there piles of laundry all about the place, dishes piled high in the kitchen and newspapers or periodicals scattered throughout the house. Are you filled with a sense of pride or a dread that anyone would see where you live. You may say that you are too busy to have a clean home or that you like your organized chaos. However there are lots of people who have plenty of kids, work a full time job and still manage to have a clean and tidy home.

I have had clients come to me for financing as they were in a tricky spot and when the lender saw the state of their home that the offer for financing was rescinded. We all have the same 86,000 seconds in a day, it is how we use them that matter the most. Your home does not have to be in a “Better Homes and Gardens” or “Architecture Digest” form, but it should present well enough to show that you care about where you live. This should not matter if you rent or own the property to have a place that you would feel comfortable showing your surprise guests.

Today I am thankful for night time temps that made it very conducive for sleeping, a surprise visit to a prominent citizen that made for very interesting news today and a quick fix for a recent automotive problem.

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

Dog days of Summer

According to the Almanac this is what they have to say about the dog days of summer.

“The term ” Dog Days ” traditionally refers to a period of particularly hot and humid weather occurring during the summer months of July and August in the Northern Hemisphere. In ancient Greece and Rome, the Dog Days were believed to be a time of drought, bad luck, and unrest, when dogs and men alike would be driven mad by the extreme heat!”

The good news is that we only have 3 days left according to them as they normally last from July 3rd to August 11th. I love the hot days but could do with some cool nights.

Today I am thankful for the repair work that is finally happening on my home office, people who show up on time and as promised and finishing a run this morning when all I wanted to do what quit.

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

Be the hero

Be the hero instead of the victim in your own story. Shit happens to all of us, but don’t dwell on it nor focus on it. Acknowledge that it happened, learn from it and move on with your life. Instead focus where you want to go rather than what happened or who hurt you.

People are drawn to those who have a clear vision of where they want to go and what they want to do. Nobody wants to hang around with a woe is me or someone is is constantly the victim. Be the hero and take charge of your own life, make things happen and don’t worry or focus on the things that you can not control or events or circumstances that happened in the past.

Today I am thankful for a great early morning run before it got too hot, an unexpected trip to the valley and last minute change of plans for lunch that turned out to be the best meal out that we have had for a very long time.

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

Challenge Accepted

What I always tell my clients is that, where there is a will there will be a way. There is nothing like the satisfaction from closing a challenging file. I have had many in my years as a broker and they always feel good when you can get them to close. It could be unique and challenging credit situation, particular location or type of property, a unusual income confirmation or any number of things.

I will try any and all legal and ethical ways to get clients files to close. When these challenging files close, irregardless of the mortgage amount there is always a celebration and sigh of relief. There have been commercial files that have take 18 months to close and residential files that have had multiple declines, approvals or submissions before we found one that worked with everyone involved.

Each file is as unique as the people it represents. So solutions have to be tailors to your wants, needs and expectations. The advantage of dealing with a broker is that we have a wide pool of options from many different lenders for our diverse and different clients.

Today I am thankful for the cool breeze that is blowing through my house, the feeling of relief when a challenging file finely closes and the lessons learned by taking on files that make me work harder.

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

Start over

When things aren’t going your way, take this as an opportunity to start over rather than quit. Not everything goes according to plan the first time around and the most successful people in life realize this and are persistent as a result. Learn from what was not working and keep trying until you achieve your desired result.

Also what if anything did you learn if it went well the first time? Not much really, as you learn more from when it didn’t work out and you had to start over and try again. So do not think of all these attempts as failures but rather as learning experiences that make you better and better each day till you finely achieve what you set out for in the first place.

Today I am thankful for all the times I have failed and had to start over, for everything that I have learned along the way that has made me into there person I am today and for those around me who never gave up on 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

Better late than never

The good things in life take time. As much as we would like there are no real quick fixes to most of our major challenges in life. There is no pill to take to make you skinny or smarter, and buying lotto tickets is not part of the ideal long term financial plan.

That good month you are having now at work can be traced back to months and months of prospecting and cold calls. The same for your current level of fitness, the early morning workouts that you did even though you didn’t want to get out of bed paid dividends.

So appreciate the fruits of your labours when they finely arrive as you put in the work and you deserve it. When people call you an overnight success they are discounting all the work that you put in to get you were you are today. You did this and good for you.

It takes years of saving to build up an amount for a down payment on a home, and that alone you should celebrate as getting to be a homeowner is better late than never.

Today I am thankful for workmen finely showing at my house to demo my office, my son loving his basketball camp and yes the beautiful summer weather that we are experiencing now even the heat.

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

Jack of all trades

The old expression goes ” jack of all trades, master of none”. Yes there are the rare few among us who are polymaths but they are more the exception than the rule. When your issue is important and specific it is best to deal with a specialist.

There are those in the big 5 branches who do much more than just mortgages, they also open accounts for you, your investments, your insurance and credit cards. If your question is a general one, these may be great people to seek out. However when it is something more specific then it is time to seek out the advise of someone who is a specialist in that field.

The same applies in the mortgage broker channel. Given the diversity of the types of product available there are brokers who do mostly AAA files, those who do alternative or B lenders, private lending and commercial. Someone who does AAA clients may do the occasional other file, however if you need is specific and important it is best to seek out the expertise of someone who deals mostly in that area.

Today I am thankful for the ability to work outside on my back deck on this beautiful summer day, that I fit a workout in between appointments and watching and hearing the birds while I get some work done.

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

Never Ending

The process for learning is never ending. It used to be said that when you grew up ( what ever that means) you would not have to take any more courses, classes or do any studying. However since we are always growing and learning or at least we should be, there is always something new to learn.

Those who read regularly are more creative, less stressed, happier and are paid more than those who do not read on a regular basis. Yes it takes time and we are already quite busy, but this is something you need to make the time to do. It’s just like exercise but for your brain.

A few years ago I would read maybe 5-6 books a year, and was very sporadic in my reading habit. That changed last year when I committed to doing at least 20 minutes a day. Last year as a result I read 25 books and this year my goal is to hit 30. I am also taking courses to keep up with the latest and greatest in the world of mortgage brokering.

Just as life is every changing, we must adapt to the changes around us and reading is the best way to do that. There is no standing still, and reading facebook or twitter updates does not count as actual reading. So if you have read this far you should have at least 5 min a day to read and expand your mind. Start with something lite and fun and go from there.

Today I am thankful for my daily reading habit, all the people and the places I have seen as a result and the continued curiosity to learn more.

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