Tag Archive for: Vancouver Mortgage Broker

36 Years

A lot can change over 36 years, I am thinking of this as it is the length of time between the first and second Top Gun movies. I was 17 at the time of the first one and saw it when I was living in Quebec City for french immersion back in 1986. Went to see the new one yesterday with my best man from my wedding 25 years ago.

Since 1986, there have been 9 different wars fought around the world from the Iran/Iraq conflict all the way up to the current war happening in Ukraine. The population of the word has increased over 60% from just over 4,9 billion in 1986 to over 7,9 billion in 2022. Yet still no Stanley Cup for the lowly Toronto Maple Leafs.

However in terms of personal finance, a 5 year fixed rate mortgage averaged 11.25% and a variable rate mortgage had a rate of 9.95% back in 1986. So as much as rates have been increasing over the past 4-5 months, it pales in comparison to where we were just 36 short years 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

The details

The devil they say is in the details, from this I am deriving that it is the little things done consistently over time that count. I am inspired to write that about being a frequent runner the past few years. Normally I would run 20-30K a week, however this past winter with an injury and the weather some days not being conducive to running I only got out a few times. As a result my normal pace of about 5:05/km is now about 5:25/km. So keeping consistent over time matters.

I will extrapolate this to personal finance as well. By saving money consistently and paying your bills as they come due will put you in a very strong financial position. You will have a solid nest egg built up and you will also have excellent credit. Those who have developed a strong delayed gratification will be much happier and wealthier in the long run than those who continually chase the latest and the greatest.

“Watch your thoughts, they become your words; watch your words, they become your actions; watch your actions, they become your habits; watch your habits, they become your character; watch your character, it becomes your destiny.”
― Lao Tzu

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

Peak Rate

People are complaining about how high mortgage rates have risen in the past 6 months. While not realizing how good that we had it over the past 3 years, where fixed rates dropped as low as 1.79% for 5 years.

Things have changed a lot with the increases in bond yields which drives the fixed rates. In the last four months alone the fixed rates have gone from 2.89% at the end of January to now having 5 year fixed rates as low as 4.29%. That is an increase of 140 basis points while the variable rates have increased by 75 basis points.

However don’t forget that the Bank of Canada meets next week to set the next over night rate and most if not all economists are predicting another 50 basis points increase. Some economists are saying that we may be approaching Peak interest rate, however predictions are just that and ultimately the market will decide.

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

Do Nothing

In times like this I keep thinking of this great quote, “All that is required for evil to flourish is for good men to do nothing”. Those leaders who say we will have less problems if all good men have guns too, is total nonsense if all they do is stand on the sidelines and do nothing.

It’s up to all of us to stand up and demand change for the better. Greta Thunberg proves the point that one person can make a difference. Even if you feel that you are up against overwhelming odds, as Mahatma Ghandi proved with his silent resistance or Rosa Parks with her refusal to give up her seat on the bus. Sometimes great change just starts with one determined person.

So basically what I am saying is to do the opposite of the title of this post. Do something, anything perhaps and keep doing it until things start the change. Enough of us want things to be better but most are afraid doing to action required to make it happen.

As I am a geek, I am going to end with this great quote from one of my favourite Marvel movies, “The price of freedom is high, it always has been. And it’s a price I’m willing to pay. And if I’m the only one, then so be it. But I’m willing to bet I’m not.” Steve Rogers Captain America in The Winter Soldier.

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

Amendment

amendmentə-mĕnd′mənt

noun

  1. The act of changing for the better; improvement.
  2. A correction or alteration, as in a manuscript.
  3. The process of formally altering or adding to a document or record.

In mortgage financing we get amendments all the time, when closing dates changes, when the prices change and if the purchaser’s on the original purchase and sale agreement have changed. It basically means that the first legal document was not set in stone as ultimate final version. Amendments are basically improvements to the original document. Also subsequent amentments can also nullify prior amendments as they are in fact additions or corrections to the original document.

Things change with time and need to be updated to keep pace. Amendments written 230 years ago are out of date reflecting archaic values and need to be updated to reflect current times. The sooner that certain people and socities can realize that the better and safer we will all be. Well certain places are behind the times yet are being held back by ancient values.

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

Good Intentions

The old proverb states that the road to Hell is paved with good intentions. Another way to put it is that Hell is full of good meaning and Heaven is full of good works.

Good intentions are like thoughts and prayers, totally meaningless. Nobody cares about that fact that you meant well, only that you did nothing to solve the problem.

The credit agencies don’t care about the fact that you thought a new flat screen tv was more vital than paying your bills on time. Your wife doesn’t care that you were having a really good time with your friends, only that you forgot to pick her up. The police officer does not care that you are running late for a big presentation, only that you were speeding.

For problems to get solved they require real action. Saying “it’s the thought that counts” is BS. Either do something to solve the problem or not. You are either part of the solution or you are part of the problem by not doing anything. Leaving your problems up to the “Lord” or “The Universe” to solve is also BS. Take some initiative and a whole lot of personal responsibility and just get it 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

Wrong Number

Ever since the start of the pandemic I have called and talked with my family every Friday morning. I call my two brothers and two of my cousins that we were all closest to glowing up. You see as we get older ( and nobody is getting any younger) it’s the relationships that we have in life that are more important than the stuff in our lives.

It’s also because that since we have all lost our parents in the past decade and my Mom was the glue for most family gatherings, I didn’t want to lose that. The catalyst was not the pandemic but I think my younger brother’s heart attack and then my older brother getting Covid, both very early in the pandemic that did it for me.

So today while logging on for the fist time in a few days ( we did have a holiday yesterday) I heard about the storms that ripped through Ontario over the weekend. My cousin Nancy who I talk with every week lives just outside of Ottawa and so I texted her to see how she was doing and recovering from the storm. I must have selected one of her old numbers on my phone as the person who received it was not her. Which prompted a call to the correct number to check in to see how everything was going.

So as good as a quick text is, it’s always better to call and talk with someone to see how they are doing. Relationships are the most important stuff in our lives so keep them in great shape.

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

Happy Victoria Day

I hope that everyone is enjoying their extra day off.

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

On Quitting

I have to confess that when thing haven’t gone exactly to plan, I’ve had a tenancy to just pull the plug and quit. However some of my biggest life lessons have come from when I’ve continued down the path and it went horribly wrong. You never learn anything when you have gotten it right the first time around, it was just too easy.

Yes I have regrets but the lessons learned far outweigh the disappointments. I have had business relationships that have not gone according to plan, it may have hurt at the time but I know I have grown and developed as a result of having the relationship. The same also applies to business strategies, personal relationships, fitness routines and general nutrition.

Quitting and failures are a part of life, and people put too much emphasis on those two things and not enough on the lessons learned as a result. It’s your own and others lessons that help us truly move forward and make progress in life. One of the reasons that I enjoy reading biographies so much is to learn from others so those same lessons can then be applied to my life.

Too many people just post about their successes, yet the truly successful have failed more times than they have succeeded. The important point is that they have continued to pick themselves back up when they have fallen or stumbled. To continue moving forward no matter how slowly the progress is the key to success.

You can either look back on life with regret or you can look back and learn. I prefer the latter.

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

Breaking Point

Sooner or later our procrastination goes too far and we get to the breaking point and we finely buckle down and get the work done. The funny thing is that while doing it you realize that it wasn’t so bad after all. So if you have delayed the term paper till the absolute last minute, or filing your taxes, swapping out your winter tires, cleaning your gutters or cleaning out your house, know that the time to complete them is just a fraction of the time that you have spent procrastinating getting them done in the first place.

Chip away at tasks that you think in your mind are too large to accomplish all at once. Schedule it in your day to do a little bit at a time every day so you won’t end up pulling an all nigher the day before it’s due. I have always loved Jerry Seinfeld’s approach to this by looking at tasks as link in a chain and doing a little at a time every day without fail. That is how thing get done.

So don’t wait till it’s too late to get the important things accomplished, just start today and do a little bit at a time each and every day. Those perceived insurmountable tasks are much easier accomplished when taken small step at a 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