Tag Archive for: Vancouver Mortgage Broker

Ho Ho Humbug

Do all your responsibilities leading up to Christmas have you feeling a little less like Santa and a little more like Scrooge. Well you are not alone and it’s perfectly normal. While my wife and my kids were busy putting up the Christmas tree today, so not to ruin the mood I did a workout while they decorated.

Find something that allows you to reset and get back into a better mood. It could be doing a workout, going for a walk, having a short meditation secession or reading a few pages of a good book. This is a very busy time of year so don’t forget to make a little time for yourself so you don’t burn out.

My daughter who is also a middle child like me, did the same thing but at the gym. Find what works and make sure that you schedule in a little me time so you can get though this festive time of year in the best possible spirits.

Today I am thankful for my at home workout equipment so a quick workout can be done at almost any time, discovering some new music during a Peloton class and knowing that I didn’t rain on anyone parade while the house was being decorated.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

The only thing

The only thing constant in our lives is change. Flexibility is a must so we can adapt to the never ending constant changes in our lives. Let’s face it we get older and will not be here forever. Make the most of the time that you have here and now. The things that you learned yesterday may be different tomorrow. You must be flexible and adapt and approach things with an open mind. Those who don’t will be left behind.

The same things applies to our current mortgage and real estate markets. The low rates that we have now will not last forever. Currently fixed rates are averaging 2.69% for 5 year fixed AAA clients and Prime (2.45%) -1.30 (1.15%) for variable rates. That is a spread of 154 basis points that you could still experience some good savings. Now as for the real estate side of things, we are still suffering from record low inventory so sellers are still getting top dollar for their properties and this means that buyers have to be strategic and aggressive with their offers.

There is a reason that Maritimers always talk about the weather. It is like so many other things in live it is also constantly changing. If things were the same day in and day out, life would be monotonous and boring. Embrace the change and roll with it.

“Those who cannot change their minds, cannot change anything.” George Bernard Shaw

Today I am thankful for my dog who made me take him out earlier this morning when I really didn’t want to move, an intense workout in a cold garage and my friend in Montreal who always sends me uplifting messages in the morning.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Happy Clients

Happy Clients is what drives any successful business. Focusing on the commission may only get you one single transaction, but focusing on exceeding your clients expectations will bring you many many more. Sure the commissions are good in this line of work, but I prefer to focus on building relationships and exceeding expectations.

There are many brokers across the country who spend a considerable amount of time and money to generate leads through internet marketing with Facebook, Google or LinkedIn. This is a very expensive endeavour that gives very poor results. I find it is best to focus on building relationships with referral sources and past clients. That way the people they refer to me are pretty much pre qualified and come already committed to doing business.

We all like to go out to eat, see movies or read great books. These are all much easier to discover when referred by people you trust. This is why it is so great to be referred by all my great clients and referral partners.

Today I am thankful for the nice person who paid for my daughters lunch at McDonald’s yesterday, clients and referral sources who continue to think of me for their friends and family and talking with old friends on their birthday’s.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Season of giving

Now that we are in the midst of the holiday season, thoughts are frequently turned to how those who are fortunate can help those less fortunate. There are many worthwhile charities, here are three that come to mind for me.

Feed Nova Scotia helps individuals and families facing food insecurity or homelessness. You can donate by clicking on this link.

Canadian Blood Services as the need for blood is always there. I needed it back in 2015 and as a O- I feel it is now my responsibility to give back. You can also support them financially. Here is the link.

Canadian Red Cross is working to help those impacted by the flooding in BC. A little goes a long way, so please click here to donate to this worthy cause.

Lastly and importantly if you are feeling generous this time of the year and want to help someone in need whether it be though a donation to one of the causes above or just help an individual or family locally, do not record it to post on social medial. Do it instead because you want to help, not because you want to get likes or comments on your good deed.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Let it snow

Since we have no place to go, mostly due to the fact that we are still working from home due to Covid, let it snow, let it snow, let it snow. The first snow of the season is usually a reminder for those who haven’t yet gotten their snow tires to make the appointment and do it now. Remember to take your time, clear off your vehicle before you leave and be patient as it takes longer in the snow.

Today I am thankful for the beauty that the first snow brings to the city, for the perfect time to play Christmas music and for warm cups of hot chocolate.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

The dark side of Social Media

There have been so many great things to come from the rise of social media and the internet. It’s so much easier to connect with friends and family no matter where they live. Information about almost any topic is only a few keystrokes away. However the same can be said for the almost same amount of misinformation and or negativity.

Five star on line reviews help business grow and attract new clients and customers. But it only takes on negative review to tarnish someones reputation. It’s sad that negative information spreads at the speed of light while the positive information seems to take the pony express.

Please think before you spread any negative information online. At this moment you may feel upset, but you need to ask yourself is it true, helpful, inspiring, necessary or kind. If it is none of those things, don’t say it, text it or post it. Go for a walk and clear your head and move on with your life. If you wouldn’t say it to your Grandmother then don’t share it online.

Today I am thankful for my morning walk with my dog for helping improve my mood, a great 5K run in the snow today and the smile and wave I received from a fellow runner this morning.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Tis the season

Ready or not we are now prime into the Holiday season of 2021. The Jewish Holiday of Hanukkah started yesterday and continues through Monday December 6th. So I want to wish all those celebrating the Jewish “Festival of Lights” a very Happy Hanukkah. Then we have Christmas and Kwanza not far behind.

So with all the festivities and parties with friends and family coming up, give the gift that means the most your presence. Be there for your friends and family. Listen, learn and help them if needed. This is way more important than finding and buying the perfect gift. The gift of your time and attention to a loved one is far more important. Leave the actual presents for the kids.

Today I am thankful for the ability to work at home so I can drive my kids to school when we have inclement weather, the excitement and the traditions of the Holiday season and that I was able to help out a new broker this weekend.

“The best way to spread Christmas cheer is singing loud for all to hear.” – Will Ferrell

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

The rate game

When the first thing that you talk about with clients is rate, then you have just limited yourself to being a rate broker. I told another broker on our national facebook group that if you do this you have to be prepared to live by the sword and die by the sword.

Actually rate will not dictate your final payment as much as amortization. If you are buying with 20% down or more you have the choice to extend your amortization out to 30 years. This is also available if you are refinancing. Doing this will help lower your overall monthly payments as well.

There is more to a great mortgage than just the rate. You need to consider flexibility like pre payments privilages, portability, and potential penalty to break the contract.

Today I am thankful for the slower pace on the weekends, being able to take a nap and still get what I want done accomplished and it was cool and crisp for an early morning run.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Mitigate your risk

With all the talk about possible impending interest rate increases in the new year, there is still a way to have your cake and eat it too. As it stands today lender are still offering deep discounts on variable rates. For example a AAA client purchasing and putting down less than 20% may get access to prime ( 2.45%) less 1.3%. This means your new mortgage would start at 1.15%. This is pretty sweet considering the same 5 year fixed rate is around 2.59%. So you start off at a discount of 1.44% compared to those who take the fixed rate.

While I have no crystal ball and can not predict what the governor of the bank of Canada may do. It would take quite a few interest rate increases to even meet the current fixed rate of 2.59%. This is because when the bank of Canada has moved the rates in the past they are normally at .25% at a time.

So the best way to mitigate your risk and get access to the best rates on the market ( for those who qualify), is to go variable and set your payment as if you took a fixed rate. So for example a 400K mortgage at 1.15% will give you a payment of $1,534.30 ( 25 year amortization as well). By setting your payment at the fixed rate of 2.59% you will pay 1,809.84. The $275.54 extra that you are paying goes directly towards your principal further reducing your mortgage by 4.3 years and saving you $10,726 in interest. There is a link to my mortgage calculator below, where it says mortgage app.

Today I am thankful for warm chocolate challah bread which was the best post workout snack ever, the opportunity to practice my french yesterday which always makes me feel better and Christmas music in every store.

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Meeting Request

Earlier this week on the regular mortgage mastermind group that I attend with Dustan Woodhouse. He asked the group what are you doing different now vs prior to the pandemic. The most common response was that we are not doing any more face to face meetings. 20 years ago when I started it was the common practice. However with that practice comes the down side of lost productivity time.

To meet someone in person requires that you leave the home office up to 30 minutes beforehand to allow yourself to arrive on time and so you can find a place to park. Showing up late is not in my vocabulary. Take a few minutes for chit chat and then talk about the important stuff and lo and behold the meeting takes about an hour. So now with the commute back in possibly rush hour traffic has now resulted in a loss of 2 to 2 and half hours of time. All of which could be accomplished by meeting virtually or over the phone.

I am more productive staying in the office and working on getting my clients files approved and finalized than running all over town. I mean no offence to say this as my clients and referral are wonderful people, it’s just that in 99% of the time we don’t have to meet in person. To meet virtually is actually a very easy process, just click here and pick a time that works for you and make sure that your camera is on so we can connect.

Today I am thankful for meeting up a friend that I have not seen in a very long time yesterday, neighbours homes starting to look festive and options for clients when others had said no.

“The least productive people are usually the ones who are most in favour of holding meetings.” Thomas Sowell

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, Ontario(M18001555) & in British Columbia(BCFSA #504098).

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