Tag Archive for: Vancouver Mortgage Broker

Boring

I don’t like life if it’s not challenging. Heard this saying during my Peloton class this morning and it definitely rings true. She also reminded us that talent isn’t impressive, but commitment is. Inspiration comes from the strangest places sometimes.

As much as we don’t like it sometimes, it better to be challenged and committed to your goals than being bored and just going through the motions. What you are working towards doing should scare you a little bit. You don’t have to know how it will get done, just have faith that you know that you can do it.

Doing the same old thing day in and day out will not help move you forward. Nobody wants to be bored or comfortable all the time. There should be a balance between comfortable and pushing your self forward toward your goals.

Change in inevitable so get use to it. Standing in one place will only insure that you get run over, so embrace the challenges in your life and keep pushing forward.

It’s challenging to save up a down payment, but many many people are able to do it. It’s challenging to pay your bills on time and maintain good credit but many people are also able to do it. It is also challenging to work more than one job so you can afford a better life for you and your family and many people do just that.

Don’t be bored, comfortable or complacent be driven, inspired and focused instead. Embrace the challenges in life as you become better by overcoming them.

“The greater the obstacle, the more glory in overcoming it” Molière

Today I am thankful for the Friday chat’s with my family, the subsequent challenges that help transform me into a better version of myself and limits that were overcome by staying consistent and pushing myself.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Be a Magnet

Be a magnet to what you want to attract in your life. You have probably heard people talk about the power of attraction for years and thought that it was a bunch of new age BS. That you could get things into your life just by thinking about it. There is more to it than that.

It falls along the principle of Be, Do, Have. People often mix up the order of the first two but it is essential that you master “Be” or all the “Do’s” won’t amount to much.

Be the person that has already achieved the goals that you want to have.

Do the actions necessary to get you there

Then you will have the results that you are looking for.

Part of being the magnet is also being keenly aware of your moods when things are going well and also when they are not. You could be having a great day until someone cuts you off in traffic or your kid did something or you spilt your coffee. Don’t let one event take you off course for what you want to achieve. Mind your mind and you will very quickly realize that want you have been working towards is very quickly showing up in your life.

We can’t control the weather, world events or how our favourite sports team did recently but we can 100% control how we react to situations. Nobody wants to be around someone who complains all the time but we are invisibly drawn to those who are cheerful and in a good mood. Take advantage of that part of your life that you have total control over which is your attitude and your focus and nothing will stop you.

“What you think, you become. What you feel, you attract. What you imagine, you create.” Buddha

Today I am thankful for a great Thursday morning 5K run with my neighbour, be inherent benefit of minding your mind and being aware of what is happening based on what mood I am in and rush hour traffic is always easier to handle with good company.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Biggest Risk

I haven’t included a quote in my posts in a long time but this one came to mind recently. Far too often we strive to be comfortable rather than inspired, passionate, determined or driven. We settle for what is easy rather than pushing ourselves for what we know that we deserve.

“Life is inherently risky. There is only one big risk that you should avoid at all costs, and that is the risk of doing nothing”. Denis Waitley

It takes work to create a great life, but not so much to eeek out a living and just get through the day. Yet we all want the nice house, the fancy car and the nice vacations every year. Putting it on credit cards seems easy while saving up the money requires much more work. One has a lot more work at the beginning while the other has all the consequences at the end.

It takes risk to start a business. It is risky to get a trade or a university degree. It’s risky to work on commission in sales. It’s risky to push yourself physically. It could also be risky to invest in real estate. However it is risker still to work for someone else making less than the standard of living. It is riskier to watch several hours of tv a night rather than reading or working on improving your self.

You either pay for it by risking it all in the short term to get long term benefits or you do next to nothing in the short term to have pay for it in the end by having no heath or finances to enjoy your life. Nobody gets out of this alive, so decide where you want to have the risk in life.

“Never let the fear of striking out get in your way” Babe Ruth

Today I am thankful for the rain again this morning, the benefits I experience from getting up with the sun every day and having the courage to bet on myself each and every 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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Start Slow

Many of us have dreams of greatness. Achieving more than one could ever thought possible. Yet most of us make zero to no progress toward those goals. We get bogged down by the work, focus or determination it would take to make those dreams a reality so some people don’t even start.

There are some who get going and take massive action yet end up burned out by their perceived lack of progress. We should all be more like the tortoise rather than the hare and start slow and keep plugging away at it until you have achieved what you set out to achieve.

I can remember back not that long ago when I had trouble just running 5K, now I do this regularly and in-fact just finished a half marathon last month. Starting slow a few steps at a time done consistently will help you get to your objective. Take any large goal and break it down into small bite sized pieces and almost anything becomes possible.

The same philosophy can be applied to saving up a down payment for your first home or building a nest egg for retirement. Start small and be relentless about your commitment and you will get there. Saving just $5 a day by making your own coffee instead of buying it at Starbucks will add up to $1,825 over just one year. While this will may not give you much over the 1st year, when you add this up with other savings it will increase exponentially.

Take the first step, save the 1st dollar or do the 1st pushup and miracles will happen when you stay consistent over time and add to what you have already started. It’s not how fast you start but the fact that you constantly take the action and don’t quit.

Today I am thankful for the little actions taken over time that have allowed me to do what I do today, that small movements have never taken that much effort to do and that I was able to read over 30 books last year by only reading for 20 minutes a 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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Streaking

When I chose to write about streaking, I don’t mean running around with your clothes off. What I mean is to consecutively string together some good habits so that you create some momentum. We all know that we could do better in many area’s of our life, the first part of your new streak is to make a decision to do something about it. Eating right, working out or saving money once in a blue moon is meaningless unless you make the commitment to do it over the long term, and that is what streaking is essentially.

Back in late February I had made the decision to run the Bluenose 1/2 marathon. At that point I was running sporadically and was definitely not doing the training required to successfully complete the race distance. However the funny things about making a commitment about a goal is that once you decide to do it then things start appear in your life to help you make it happen.

I had just recently connected with a runner online who invited me to join her April running challenge. She was in the middle of her consecutive streak of daily half marathons and wanted others to join her to run every day in April. This challenge offered me the perfect opportunity to ramp up my training and as a result I accepted her offer and did not miss a day in April while I steadily built up my training. Although I did not run a half every day I still ran and mixed up my distances and routes to help me get though it.

The streak starts with your decision to do it and stick with it. Once you decide then you will be surprised at what comes into your life to help you make that possible. Start your streak towards a better life today.

Today I am thankful for my new friend Helen for inviting me to streak with her and grow in the process, I am thankful for the people who have shown up in my life and have always helped me strive toward my goals and realizing that starting is always the hardest part.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Jobless rate update

Canada’s economy added 41,000 jobs in April, but most of the new positions were part-time, according to data from Statistics Canada. Ontario was the province with the highest number of new jobs, adding 33,000, while Prince Edward Island added 2,200. Manitoba lost 4,000 jobs. Full-time work and self-employment remained flat. The average hourly wage was $33.38, an increase of $1.66, or 5.2%, compared with a year ago. Despite the increase in jobs, the jobless rate remained steady at 5%, as more people entered the job market.

US job growth exceeded expectations in April, remaining strong despite the Federal Reserve’s indicators that it would soon put an end to its cycle of rising interest rates. The US added 253,000 non-farm jobs in April, according to the Bureau of Labor Statistics, had been expected to slow. Market watchers had hypothesised that higher interest rates could be slowing down the US’s economic growth and contributing to a decline in inflation. However, the data has caused some investors to backtrack their predictions that the central bank will cut rates and brace for possible further rate rises.

Statistics Canada said the wholesale and retail trade industry led job gains, while the biggest losses were in business, building and other support services. Full-time employment held steady, while average hourly wages rose 5.2% year-over-year, outstripping inflation. The Bank of Canada has warned that a tight labour market could push up wages and prices, making it difficult to reach its 2% inflation target.

So while interest rates have been steadily increasing over the past year, there seems to be little or no effect on the overall job market for the time being. If the economy keeps adding jobs and wages keep increasing, then we may be facing another Bank of Canada rate hike. 

Today I am thankful for the end of another hectic week as all my kids are now home, the stress relief that I get from my morning workouts and being persistent enough to find options for clients in a tough spot.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Limits, labels & expectations

Life would be much better for us and everyone around us if we just stopped putting limits, labels or expectations on ourselves and others. Athletic achievements are being broken almost everyday yet we have not evolved significantly in the last 100 years or so.

People are forming companies and creating more wealth for themselves and others than has ever been thought possible. Yet at the same time, there are still millions struggling to get buy monthly what the average person here in North America spends per day at Starbucks.

Lastly more strife and division has been created in society because we put labels on people or groups because they are different than us. It should not matter if someone is of a different ethinicy, sexual orientation, or religion. We are all just human and we have far more in common than we differ. 

It is when we lift the limits, labels and expectations for ourselves and others that the true magic in life starts to happen. Once you believe that anything is possible, your world will change for the better exponentially.

Let us all strive to remove limits, labels and expectations from our lives and embrace the infinite potential that lies within us all. Let us celebrate our differences and recognize that diversity is what makes our world so beautiful and unique. Let us support and encourage each other to push beyond our perceived limitations and reach for the stars. Remember, anything is possible if you believe it is. So, let us believe in ourselves and in each other, and together we can achieve incredible things.

Today I am thankful for the weekly speed run where I push past my previous limits, that my wife just received her new birthday present two weeks early and the power that comes from thinking that anything is possible.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

It’s NOT always about the rate!

Marketing people are clever. They know that we will be attracted by the shiny object, the sexy supermodel or the fancy headline. This is why car companies still market cars based on their 0-60 times or their range for the electric vehicles. When all that really should matter is their reliability, safety and that there is a robust charging network for the electric vehicles. 

People use to sell office photocopiers based on speeds and feeds. Computers used to be advertised based on the gigahertz of the processor. When all that really mattered was that it printed or faxed your documents and ran your necessary programs to get your work done.

Mortgates are no different. Watching a few minutes of the Leaf’s hockey game last night I saw an advertisement for one of the new national players in the mortgage space and it was just based on rate. While we all have access to similar low rates, the sad part is that not everyone qualifies for the lowest advertised rate.

The things that impact your rate will be but are not limited to your credit, type of income, size of down payment, amortization, type and location of property and debt service ratio’s. If you have had credit issues in the past and all you see online or on the TV are the lowest advertised rates, then you may end up being disappointed when it comes time to apply for a mortgage.

Sometimes getting your mortgage approved and funded so that you have a roof over your head is more important than the actual rate. As someone who has been a broker for over 21 years now, I never sell or market on rate but always try to get the most competitive rate and terms for each client. 

In the end, it’s not about the rate. It’s about finding a mortgage that fits your unique situation and allows you to achieve your goals, whether that be owning a home or investing in real estate. So, don’t be fooled by shiny advertisements or low rates that may not apply to you. Work with a mortgage broker who will take the time to understand your needs and find the best solution for you.

Today I am thankful for finding options for clients when sources that we wanted to go with said no, that the conversation about rate is always an opportunity to discover what is most important to the client and that variety of clients realy is the spice of life.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Gordon

The name Gordon is quintessentially Canadian like poutine, hockey or maple syrup. The popularity of the name stems from the Scottish ancestry that was common among many of the early settlers to Canada. While we are much more diverse today, the name is common among many famous Canadians and was even the name of the debut album by Barenaked Ladies. 

Here are just a few of our famous Gordon’s. Mr Hockey Gordie Howe, and if you were lucky enough to have a goal, an assist and a fight in a game you would have had a Gordie Howe Hat Trick. Gordon Sinclair the legendary journalist & broadcaster from CBC’s Front Page Challenge. Gordon Pinsent the “CodFather” famous actor from Newfoundland. Gord Downie who was the lead singer for the Tragically Hip. 

I was inspired to write this today as we just lost another one of our famous “Gordon’s”. Gordon Lightfoot, the iconic signer/songwriter passed away last night at the age of 84. While my kids may never have heard one of his songs, he was one of Canada’s greatest musicians. Leaving us with great songs like “If you could read my mind”, “Carefree Highway” and “Sundown”. Just ask Alexa to play some Gordon Lightfoot today to celebrate his incredible accomplishments in music.

His legacy and contributions in music will always be remembered and cherished. Many Canadian artists have been inspired by his work, and he has undoubtedly made a significant impact on the Canadian music scene. His music will continue to live on, and his name will forever be remembered as one of Canada’s greatest musicians.

Sorry I can’t always write about mortgage & finances.

Today I am thankful for the musical legacy left to us by Gordon Lightfoot, that he was a great songwriter because of a little inspiration and a lot of hard work and that his work will continue to inspire us for years to come.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Another one bites the dust

As the great Queen song goes, “another one’s gone, another one bites the dust”. I woke up to the news that another bank has failed today. This time it was another troubled California lender, First Republic Bank. 

Regulators seized their assets early this morning and most of it’s assets and all of it’s deposits were sold to JP Morgan Chase in a bid to stabilize the banking sector. This was the 3rd large US bank to fail this year, 4th large banking failure if we include Credit Suisse who had to be reluctanly taken over by UBS.

What causes this you may ask? Well it all starts with a run on deposits when large sums of money are withdrawn from the bank as people hear rumours that their money won’t be safe. Basically it is an evaportion of confidance that they will be able to protect the money that you have on deposit with them. When the confidance is lost then the bank will quickly fail if enough of the deposits are withdrawn.

Can a bank fail here in Canada? While possible, it is highly unlikely. Since the Canadian Deposit Insurance Corporation was established in 1967 there have been 43 bank failures. However in the US there have been more than 500 since the year 2000. For instance the Canadian banking sector is made up mostly of the big 5 well capitalized banks whereby the US have smaller or mid-sized regional banks spread across the country. 

How do you protect yourself? Make sure that your bank is a member of CIDC. This means that your deposits of up to 100,000 are fully protected. This covers your chequing and savings accounts, TFSA’s, tax free home savings accounts, RESP’s, RRSP’s, Disability savings plans, RRIF’s and trust deposits. There are also calls to increase the coverage as the US FDIC covers up to 250K US or 330K CDN.

It is important to also do your own research on the stability and financial health of the bank you choose to do business with. Check their credit ratings and financial statements to ensure they are not at risk of failing. Diversifying your investments and keeping some cash on hand can also provide some protection in case of a banking crisis. Overall, while bank failures may be a rare occurrence in Canada, it is still important to take precautions and stay informed about the stability of your financial institution.

Today I am thankful that I finely have all my kids home, that my girls has a great 1st year at university and that I made it though running every day in April.

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 (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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