Aloha - Summer ends and more rate increases

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

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Power of Sales /September Forclosures

 

Power of Sales Barrie

Power of Sale Brampton

Power of Sale Caledon

Power of Sale East Gwillimbury

Power of Sale Georgina

Power of Sale King

Power of Sale Markham

Power of Sale Mississauga

Power of Sale Oakville

Power of Sale Oshawa

Power of Sale Richmond Hill

Power of Sale Toronto

Power of Sale Vaughan

Power of Sale Whitby



Why have I never heard of my Lender?

 

As Mortgage Brokers, we have numerous lenders competing for our clients’ business.  Often, you will meet with your broker to sign your mortgage documents and you will not recognize your mortgage lending company.

 Why is this?

Broker or “Virtual” lenders that only deal with brokers or existing clients direct, can generally offer a lower rate and also a lower penalty calculation.  This is because instead of spending millions on Advertising and Sponsorships, they retain their capital to pass along the savings to the customer.  They also do not have the overhead of having numerous physical branches.  They pay brokers based on the mortgage size to be their mobile representatives.  The brokers are independent contractors so the lenders aren’t required to pay for benefits, etc.

Read Article Here:



Inspiring Conor McGregor Story

 

Less than 10 years ago, Conor McGregor was homeless. 

While homeless he met a woman named Dee Devlin. She took him off the streets, moved Conor into her tiny apartment and fed him daily.

All she ever asked was that he worked hard and believed in himself. She struggled to buy expensive, healthy food so Conor could train and stay focused...but she stuck by him.

Only 6 years ago, Conor was undergoing a plumbing apprenticeship program and collected 188 euros as social welfare payments each week. 

Last Saturday night, Dee sat in the attendance to once again support her man while he made over 100 MILLION dollars to add to his successful new life.

Moral of the McGregor story - Believe in yourself and find people to surround yourself with who believe in you as well. Life is too short to keep your circle full of people who will watch you fail.

Don't EVER let your circumstances or people hold you down. Get out there and take what's yours. Own It.  No Excuses.

Here are some famous McGregor quotes:

-Competition gives me energy. It keeps me focused.

- I don't feel pressure in a negative way. I like pressure. I feel excitement and calm at the same time. No pressure, no diamonds.

- I will die a crazy old man.

- When I say something's going to happen, it's going to happen.

- What can I say? I am a talker.

- The thing about truth is, not a lot of people can handle it.

- When I do something, I do full steam ahead.

- I always teach myself calm and visualization

- Ritual is another word for fear, manifested in a different way.

- I am fearless

- Life is about growing and improving and getting better.

- My success isn't a result of arrogance - it's a result of belief

- It's good to make your brain work more than your body.



Family Hawaii Trip

 

My first time in Hawaii ever this year. And it was a good way to finish off my Summer. It was a big family trip with my sister, her family, cousins from San Diego and all the way from Germany too. It's a very beautiful place, and extremely hot. So we pretty much relaxed every day on the beach.



Bank of Canada Rate Hikes Attention *Variable Mortgage Clients*

 

Well it happened again, the Bank of Canada has announced another increase to the Overnight Lending Rate... Prime will rise likely to 3.20%.
It's not the end of the world, however, I can understand that any increase in payment is not fun.

This increase represents approximately  $13 more per $100k of mortgage based on a 25 year am.
Now I'm no fortune teller, however, I would think this is the last one for a bit of time. Too fast and they could damage things.

That being said people with deeper discounts should stay the course. You're still under the lock in rate and variable mortgages ONLY come with a 3 month interest penalty. Locking in brings with it the potential for higher breakage costs; if you were to break your mortgage prior to the end of the term. This difference here could actually end up costing you thousands more.

The Bank of Canada has gone back to the future.
For the past decade, traders have been conditioned to expect central banks to both telegraph policy tweaks ahead of time and offer a thorough rationalization of those shifts at the time of implementation.
Canada’s central bank provided neither when hiking its benchmark rate to 1 per cent on Sept. 6. Monetary policy makers hadn’t spoken publicly since July 12, when they delivered their first increase in almost seven years, nor was the latest decision followed by a press conference.

There is a very informative video attached in the link with the full article below.

http://business.financialpost.com/news/economy/quick-hike-shows-data-speak-louder-than-words-canada-eco-watch



Top 10 Rules for Success

 

Check out these short videos on three of the most successful people of all time, Oprah Winfrey, Bill Gates and Warren Buffett.  I find it extremely helpful to hear how the most successful people approach the world and think about their time and opportunity.  Enjoy!

Here's a bonus article on why all three like to read!  

Oprah Winfrey's Top 10 Rules for Success

She's a media proprietor, talk show host, actress, producer, and philanthropist.  She's best known for her talk show The Oprah Winfrey Show, which was the highest-rated program of its kind in history.

Bill Gates's Top 10 Rules For Success

He consistently ranks in the Forbes list of the world's wealthiest people.  He's one of the best-known entrepreneurs of the personal computer revolution.  He is also the second-most generous philanthropist in America, having given over $28 billion to charity.

Warren Buffett's Top 10 Rules for Success

He was the single most successful investor of the 20th century.  Time magazine named him one of the most influential people in the world.  He's worth over $70 billion.



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