Wednesday, April 26, 2017

Thank you for the last 10 years!

Today marks 10 years since I became a licensed Mortgage Broker in Alberta. April 26th 2007. The date I jumped on the roller coaster of self employment. Things were so crazy in Edmonton during that time. We were in the midst of a major housing bubble. Prices were going up month-over-month, mortgage lenders were offering all sorts of crazy mortgage products and it felt like every apartment building in the city was being converted into a condo.

I can remember being scared but excited. I felt like this was something I could excel at. I was finishing my post secondary education in Finance as a part time, evening student and I had worked full time in sales, for years.  I figured I had this in the bag. I was in for a very rude surprise. The first few years were marked with many sleepless nights and worries. The mental shift from being an employee with a regular pay check to wondering when my next deal would close was a real challenge for me to overcome mentally.  This was not as easy as I had anticipated. I kept at it, even when my instinct told me that it was too hard, to just go get a “real” job. My husband supported me throughout this challenging time, always telling me that I could do this, to just keep at it. That it would all work out.

While the last 10 years have not necessarily been easy, they have been rewarding. I have learned so much about perseverance and myself. About being too stubborn to quit even when it was my instinct to do so. It has taught me that hard work pays off and the most important path to success is consistency. This business is all about relationships. If you do good honest work, treat your customers and referral sources right, and stay disciplined with your routine your business will thrive!

I can’t believe that it’s been 10 years. I have helped hundreds of people purchase a home, or refinance one to make things easier financially. It has been a pleasure and I have learned so much along the way!

Thank you to my fabulous clients, referral sources, mentors, friends and family for being the driver of my success. I would not be here without you! Here’s to another 10! 

Wednesday, April 12, 2017

No change to key interest rate- Bank of Canada

Once again, the Bank of Canada announced that it is maintaining its target for the overnight rate at ½ percent, despite stronger-than-expected global and domestic economies.

While the global economy is exceeding the Bank's January expectations-and the US is similarly experiencing solid growth-the Bank believes there is still an element of uncertainty around the global outlook. Similarly, Canada's economic growth has been faster than predicted back in January, something the Bank attributes to a boost in spending in the oil and gas sector as will as increased consumer spending resulting from the Canada Child Benefit. While the Bank finds this increase in GDP "encouraging", it isn't prepared to declare the country on a "sustainable growth path".

With CPI inflation currently at the Bank's target of 2 percent, the Bank expects it to dip in the months ahead before returning back to 2 percent later in the year.

Because of all this-and the fact much of this good news could be "temporary"-the Bank has opted to maintain its current rate. If you have any questions regarding interest rates-or any questions regarding your mortgage at all-please feel free to drop me a line at 780-722-6287.