Monthly Commentary

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Bank of Canada Rate Announcement

Bank of Canada Announcement and Banks Announcing Mortgage Rate Drops is merely coincidence Mortgage Rate Drops, independent of the bank of canada announcement, are expected in the near future due to spring market price wars. You have most certainly by now heard that about the Bank of Canada's Announcement a couple of Wednesdays ago regarding [...]

Mortgage Professional – How to Find the Right One

Finding the right mortgage professional should be the first step in the process that is most likely the largest financial transaction of your life. There are many that can be chosen from; they can be independent or part of large establishments. Unfortunately, there is only one chance to make a good decision; after the loan documents are signed it is too late to look back. Let’s take a look at some of the traits that a consumer should seek as well as some of the questions that need to be answered when making this decision.Choosing someone to help you in the process of obtaining a mortgage should involve trust and a certain level of comfort. There should be comfort in the knowledge that this person exhibits expertise in the field, has integrity, and is there to help guide and educate you. This process should be treated like you had run a want ad in the newspaper for a job to be filled, after the candidates have been selected comes the in depth interview for the position.It is easy to ask someone what the costs are, what are the interest rates, what their fees are, and how much points are; this should not be the sole focus of the first discussion. If the prospective candidate only wants to discuss this instead of their background or starts putting pressure on you for a fast decision, run and run fast to the door. As any prospective employee, the candidate should offer their credentials for review including what states they are licensed in as well as any associations they might be part of. This is a good transition into the interview process that allows succinct questions to be asked that can give a good snapshot of their background and expertise.Start with their experience, how long have they been in the financial service industry? How long have they been servicing mortgages? Discussing this should give the impression of someone who knows the industry and can provide the right type of mortgage to specifically fit your needs. This stage in the interview should include what their approval rate is, the good mortgage professional should know at the very start of the process what a good candidate is and the probability of getting approved which further shows the experience level of the individual. A clear understanding of your needs should also be exhibited so that proper guidance can be given in the choice of the loan package that is best for you.This is a service industry so you mortgage professional should be readily available to you through the entire process from application to closing. They should be your counselor and guide through the largest financial transaction most Americans make in their life. If you do not feel this in your gut, then most likely this is the wrong choice. […]

By | October 31st, 2014|Monthly Commentary|Comments Off on Mortgage Professional – How to Find the Right One

Quarterly Economic Forecast-Canadian Economic Outlook (2013)

TD Canada Trust has published its Quarterly Forecast for the Canadian Economy. Below are the highlights of the report   •    Uneven external demand weighed on Canada’s economic growth in Q2, even as domestic consumers and the housing market displayed better-than-expected momentum.  The Canadian economy is forecast to grow at a modest 1.7% pace [...]

By | September 25th, 2013|Monthly Commentary|Comments Off on Quarterly Economic Forecast-Canadian Economic Outlook (2013)

The Power of Empathy

Back in university we did a case study in one of my business courses. I don't recall the class, and I don't recall the names of the people in my group. I do recall however, the conclusion that was drawn from our exercise. Companies that truly care for their customers are generally more profitable than [...]

By | September 20th, 2013|Monthly Commentary|Comments Off on The Power of Empathy
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