Long Time, No Shop Talk

Hi everyone.

You may have been wondering when I was going to post another mortgage-related blog. So was I.

Truthfully, for 99% of us, mortgages aren't as exciting as say, hockey or a car accident. Maybe mortgage-related news is the equivalent of watching a dart game. Which is a great analogy.

I'm the dart thrower tosser and your mortgage application is the dart. Sure, you can definitely throw your own dart at the board - there's a good chance you will hit it. Maybe you hit a seven, maybe a 15.

Unless it's on fire. Then you should call the fire department.

Or I could step up and throw it for you. I will own that dart board. Most people aim for the bulls-eye - I'm aiming for that triple 20. But maybe due to your circumstances I have to aim at the ten or sixteen. I could also hit that three, maybe we should talk about that strategy first. But when it comes down to it, I have the knowledge and the skill to take that shot for you.


I digressed. I was going to talk about why I haven't been posting very much. It gets back to mortgages being such a niche interest. And with a niche interest there is very limited information you can pass along that isn't already out there on somebody else's blog already.

The Real Estate bubble is going to pop any minute now!!

'Get on Social Media, use it!' is a suggestion I am sure near everyone in a financial/commissions-related position has heard and I know many are doing.

To me, it's the same as 'You have a dog, take it to the dog park!' Yes, your dog is special and interesting and might eat poop but it's your dog. In the end not everybody is going to take an interest in your dog.

even if he thinks he's people...

So yes, I've tried social media. I had a twitter. I wind up following 60 strangers that made me laugh with their witty one-liners and 2 other mortgage brokers. I had about 10 followers and then deleted it. I joined Linked-In which allows me to follow other strangers in the same industry all wearing ties and have nice haircuts. I'm rarely on that site either. I have Facebook (which is probably how you are reading this link) - so most likely you at least know me through one of my other incarnations outside of mortgage broker; family, friends, writing, firefighting, social work.

Honestly, I don't have much to offer in terms of original content regarding mortgages. You are either interested or you aren't. But if you are interested, here is what I and a thousand other mortgage broker blogs will tell you;

1) We are a growing industry that competes against your bank to provide you the maximum savings possible on what is probably going to be your biggest purchase in your lifetime.

2) There are basically 2 options for residential mortgages - fixed or variable. Fixed locks in your rate for your term, a variable can fluctuate based on the economy, specifically the Prime Rate, set by the Bank of Canada.

3) Brokers are free! There is no fee for our service - we have dozens of lenders a phone call or email away that all accept one standard application, saving you hour after hour of contacting, making appointments, interviewing each lender - many who might not even be located in your town.

4) It takes about 30-60 minutes to do an application with your mortgage broker.

5) All information is confidential. Only relevant information related to the lender and insurer is submitted.

6) I will help you go through your credit bureau report and suggest plans to help improve your score if needed.

7) Over 40% of people wishing to purchase a house have chosen to consult with a mortgage broker compared to only 25% a decade ago. Those could be numbers entirely made up. Statistics are fun!

8) Here are some terms you might want to brush up on to better understand the shop talk mortgage brokers may throw at you.
 

That's if for today, folks. Have a good one!