What happened to your waist line????

If you're a Canucks or Bruins fan you know exactly what I'm talkin' bout !

Apparently, as Tony Parson's reports here in this video, a long playoff run by your favourite team is causing you to gain weight unexpectedly.

http://www.youtube.com/watch?v=tCCDWQ4XbVg

What!

Do you love your Canucks enough to put on 10 lbs?

I sure as heck do.

I just figure a good ole round of P90-X after the stanley cup parade will be enough to get me back to my playing weight...haha

Enjoy the game tonight!

Until tomorrow...

Kevyn

Are you the pawn or the player?

Ok so here it is.

While I lay in bed at 4 am, wide awake because my daughter decided to join our bed and proceed to toss and turn until I was wide awake, I got to thinking.

No that burnt rubber smell at 4am was not from me!

But what I was thinking about is quite interesting to me anyways.

My thoughts kept coming back to ma and asking the same question...

"How indispensable am I to my clients..."

Like so many minimum wage earners in Queens, that stand on the street corner every morning hoping to get a contractor to come by and pick them up for a days worth of work, I don't want to just be a choice.

I want to BE the choice when it comes to Mortgage Financing for circle of influence.

I don't want to be the one on the street corner after the Contractor has driven away, standing in the cold hoping that one day I will get chosen so I can earn a decent living.

That is leaving a lot to chance is it not?

So, can I become indispensable?

Damn rights I can.

The first thing we need to realize is that is has all been done before. I am not reinventing the wheel and going to be the first.

Other people have survived way worse than me - a meddling mother in law, nagging wife, friends that are doomsayers, glass half empties- and have done the challenging work to make themselves indispensable.

That's a nice thought because that means that it is not impossible.

Another nice thought as well is the fact that they were not born with a magical talent.

They were not gifted anything that I did not receive from my parents.

No, they just trained themselves to think differently. They decided one day to be that way.

Just as I have in the last few years.

Wish I had more of this available on my webpage for those who would read it. What I do have is everything mortgage related you could think of. And if I don't, I will find it for you.
www.kevynoyhenart.ca

Enjoy your successes today.


Kevyn

Have you heard of the Husband and Wife Mortgage?

Haha just kidding but it could be loosely applied if you will.

The reason the joke works is that for the most part when it comes to mortgage lending and choosing a rate for the loan. Women tend to be more conservative and the men more aggressive.

Hence the birth recently of the 50-50 or Hybrid mortgage.

Now you can have your cake and eat it too!

Hybrid mortgages – also known as 50/50 mortgage products – include an equal mix of fixed-rate and variable-rate components within your single mortgage. This means you get the best of both worlds – the security of fixed repayments with the flexibility of a variable rate.

Although there was a time in recent years when mortgage experts considered a variable-rate mortgage as the obvious choice to save mortgage consumers money over the long term, with fixed rates remaining near historic lows, a 50/50 mortgage may be a great alternative for you.

In essence, since it’s extremely difficult to accurately predict rates over the long term, a 50/50 mortgage offers interest rate diversification, which can help reduce your level of risk.

If you opt for a 50/50 product, half of your mortgage is locked into a five-year fixed rate and half is at a five-year variable rate. You can lock in your variable-rate portion at any time without paying a penalty. As well, each portion of the 50/50 mortgage operates independently – like two separate mortgages – yet the product is registered as only one collateral charge.

The 50/50 mortgage product is well-suited to a variety of borrowers, including those who:

·         Would normally go fully variable but are afraid prime rate is at its bottom

·         Aren’t comfortable being locked into a fully fixed rate

·         Can’t decide between a fixed or variable mortgage

·         Savvy first-time home buyers

Some features of the 50/50 mortgage include:

·         20% annual lump-sum pre-payment privileges

·         20% annual payment increase ability

·         Portability (the option to transfer your existing loan amount to a new property without penalty)

As the 50/50 option is a fairly new offering, according to a recent study by the Canadian Association of Accredited Mortgage Professionals (CAAMP), 5% of Canadian mortgage holders have 50/50 mortgages compared to 28% with variable-rate mortgages and 68% with fixed-rate mortgages. But many experts believe the 50/50 mortgage is quickly gaining momentum.

Want some more info regarding this innovative product?

Log on to my web page and read up on what is quickly becoming a popular product and not just a blip on the Mortgage radar screen  www.kevynoyhenart.ca

Until tomorrow...


Kevyn

Are you new to Canada?

Moving to Canada?

One should plan ahead for Home ownership

If you have a job awaiting you on Canadian soil, it’s possible to also secure the purchase of a home if you plan ahead and connect with professionals before you even begin packing.

The main reason you’ll want to get in touch with the right professionals before you start to pack is to find out what important paperwork you’ll need to set aside to ensure smooth sailing through the home financing and purchasing processes.

Your first step should be to get in touch with an experienced mortgage professional. In doing so, you can set the home financing process in motion by securing a mortgage rate guarantee and pre-approval, and figuring out what supporting paperwork you need to provide to purchase a home in Canada.

The services of myself and most other professionals are typically free – they are paid by lenders for bringing in new business. We have access to lenders – including banks, credit unions and trust companies – where we can compare products and rates, and find the ideal mortgage to meet your unique needs.

In most cases, Canadian lenders and insurers want to see employment letters that prove your offer of employment and salary in Canada. You must also have at least a 5% down payment for the home from your own resources – which means it has to be your own money, not borrowed or gifted.

So, for instance, if you’re selling your home in another country and using some of the proceeds as a down payment on a home in Canada, you must be able to prove this.

Lenders and insurers also want to see that you have a solid credit history.

Although requirements for this proof varies based on which insurer and lender your mortgage is funded through,I would be able to tell you exactly what documents you’ll need to provide.

More often than not, an international credit bureau is more than sufficient to prove your credit history.

If this is not available, you can also provide 12 months’ worth of bank statements, mortgage or rental payment receipts, utility or telephone bills, and so on.

Again, there are several options from which to choose and we would be able to specifically tell you what a particular lender and insurer want to see.

You must also apply for landed immigrant status to get the ball rolling on securing your social insurance number (SIN), which is required before you begin working in Canada.

By securing mortgage financing prior to moving to Canada, all you have to do when you arrive is find a home. This will be an easier task when you already know exactly how much you can spend thanks to your pre-approval. It will also alleviate stress and make the whole process that much more enjoyable.

And since your mortgage professional can put you in touch with a trusted real estate agent prior to your move, you will also be able to research homes before you arrive in Canada. Again, real estate agents do not typically charge a fee to find you a home to purchase.

By planning ahead before making your move, you truly can save yourself a lot of hassle and stress when it comes to securing mortgage financing and purchasing a home.

And if you’re already living in Canada, many of the available New to Canada mortgage products apply to new immigrants who have been in the country for up to 36 months.

Here is a rough idea of some of the things to set aside in advance:

·         Proof of employment and salary in Canada

·         Proof of at least 5% down payment from your own sources

·         Government proof of residency application

·         Copy of your immigration papers

·         Copy of your passport

·         Credit report

·         Mortgage or rental payment receipts for the past 12 months

·         Bank statements, utility and phone bill payments for the past 12 months

Have a look at my website for a more in-depth look at what the program is and what it can offer New Canadians. There might even be a link to a certain team's website that may or may not be competing in the Stanley cup Finals. www.kevynoyhenart.ca

Until tomorrow...

Kevyn

Over night rates and the BOC

Mark Carney.

Here is guy who has a hug influence on Variable Rates in Canada.

For those of you not in the know, he is the the governor of the Bank of Canada. Appointed on October 4, 2007, Carney began his seven-year term as the Bank's eighth governor on February 1, 2008. At the time of his appointment, Carney was the youngest central bank governor among the G8 and G20 groups of nations.
Carney's actions as the Bank of Canada's governor are said to have played a major role in helping Canada avoid the worst impacts of the financial crisis.

When he speaks, we listen to say the least.

On Monday of last week, Mr. Carney spoke to the Canadian Club of Ottawa.

Mark's presiding theme was that the world’s economies are realigning. He believes with emerging markets now accounting for nearly three quarters of the world’s economic growth, there is concern about Canada’s reliance on the United States as its primary export market.(we only send 10% of our exports to emerging markets).

He reminded us that recessions caused by financial problems are more severe and last twice as long as other recessions. Words to take to heart.

He was then quoted as saying “any further reduction in monetary stimulus would need to be carefully considered.” In other words, the BOC will think long and hard before raising their overnight rate.

Now if you noticed late last week lenders continued to inch their fixed-mortgage rates downwards last week. Most dropped them by an average of 10 basis points (0.1%) while the five-year Government of Canada bond yield finished the week lower. The belief that rates are headed nowhere but up seems to be softening, which is always nice.

Variable-rate discounts didn't change and with posted mortgage rates dropping this week, the Mortgage Qualifying Rate should drop to 5.59% today, hopefully. This will make it a little easier to qualify for variable-rate financing.

And now the bottom line....

The Economists who were calling for summer rate hikes will revise their estimates, and will suggest that a fall rate rise is more likely than the one being forecast for July.

This is great for variable-rate mortgage borrowers.

And considering BC specifically, we are 85-15 in favor of Variable to Fixed rates.

Just thought I would throw that out there.

There is a lot of valuable information on my website in regards to making an INFORMED decision on which type of rate to choose. Have a read www.kevynoyhenart.ca

Until tomorrow...

Kevyn

The power of many....

The Power of Many.....

I am not in a Mastermind group, for those of you familiar with Napoleon Hill and his work on this fascinating field of work.

I have never been involved in group dynamics like I was just a few days ago in Las Vegas, Nevada.

I was down in Vegas on Business. I know what you're saying and thinking...who goes to Vegas on business?

Well, lets just say mostly business and leave it at that.

There was a Costume contest that I happened to win, but that is for another day....

We had the pleasure of listening to Doug Bolger. For those unfamiliar with his work or what he does, here is a link to his website. http://ilearn2.com/  . He has worked with a vast array of groups including Tiger Woods and more recently helping the Canadian Olympic committee formulate its strategy to win more medals at the recently concluded Olympics in Vancouver.

An absolutely amazing individual.

Needless to say there were at least 150 of us in the room.

We wandered around the room doing various vague and unique assignments in random groups chosen by chance.

One of the exercises we did I wanted to write and portray to you today. The reason is because it absolutely blew my mind.

We were put into a group of 8 people. None of knew the other any better than the rest. We came from different parts of the country and or Province in some cases.

We were given the task of verbalizing the Alphabet, A-Z orally, with only one person saying one letter and then someone the next and so on until complete. If letters were doubled up, in other words 2 people said the same ones, you started over.

His clue to us was this...."Close your eyes and it becomes easier..."

So we did.

We stood shoulder to shoulder, arm in arm, eyes closed, in silence.

It took us about 5 minutes, but we got the feeling.

I can't explain it.

I am struggling to even commit my thoughts to this on what happened.

But here it is in my own words.

After a few mistakes and getting no further than the Letter "F", we made the transition.

The transition from individuals to a group. From many to one. From the 8 of us, into one like minded group.

There was an energy I cannot place my finger on that we all felt. Everyone took their turn and we didn't miss a beat.

There were sometimes pauses of 20 seconds or more while we each awaited our turn, not ever knowing when it would be.

We had to feel when it was our turn.

I was blown away. Not only did we accomplish it that once. We did it again without failure.

No patterns....No pre-determined path around the circle.

Just a feeling and go with it.

It just goes to show, that with a quick pause, a deep breath, true attention to what is happening in the now, you can accomplish what you put your collective minds to.

I wish I had some of this on my website to share, but I do not. What I do have is this. A collection of information put forth by a group similar to the one in which I just described. Feel free to click through and see...   www.kevynoyhenart.ca

Until tomorrow....

Kevyn

What sort of Mortgage payment can I afford?

Are you out there?

Are you new to the process or haven't done it in a while?

Are you feeling nervous?

Are there lingering trepidations?

If you are looking for a new home, be sure you are pre-approved. It will alleviate most of the fear in the process.

With a mortgage pre-approval, a professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend.

This not only helps you out, but the Realtor is more informed as well which makes the whole process smoother. They can dedicate time knowing that you can afford a place in a certain price range and not have to worry if it will fall through based on Income.

The mortgage professional that you work with to get pre-approved will let you know for certain what you can afford based on lender and insurer criteria, and what your payments on a specific mortgage will be.

Licensed professionals can lock-in an interest rate for you for anywhere from 60 – 120 days while you shop for your perfect home. With that rate locked in, you are guaranteed to get a mortgage for at least that rate or better.

If interest rates drop, your locked-in rate will drop as well. However, if the interest rate goes up, your locked-in rate will not, ensuring you get the best rate throughout the process.

In order to get pre-approved for a mortgage, We'll require a short list of information that will allow us to determine your buying power.

We will explain to you the benefits of shorter or longer mortgage terms, the latest programs available, which products we believe will most likely meet your needs the best, plus we will review all of the other costs involved with purchasing a home.

There are a lot more intangible costs to a purchase above and beyond down payment and legal fees. Write me a quick email to koyhenart@shaw.ca  and I will send you a quick .pdf file with a list of things often forgotten in the hysteria of moving and purchasing.

Getting pre-approved for a mortgage is something every potential home buyer should do before going shopping for a new home.

A pre-approval will give you the confidence of knowing that financing is available, and it can put you in a very positive negotiation position against other home buyers who aren’t pre-approved.

It is quite often one less stress that you have to deal with and guaranteed you will sleep better at night knowing exactly what you can afford comfortably.

Need more information on the whole Home buying experience?

visit my website at www.kevynoyhenart.ca and feel free to download all of the available information that I make available to you, my adoring public.

Until next time...

Kevyn