Canadian Mortgage Rate Forecast
Good Afternoon and Happy First Day of Summer!
Over the past few months, major economists have backpeddled on their rate hike predictions.
Not long ago, the consensus of economists was projecting a July 19 increase. Now, those same analysts aren't looking for a rate bump until this fall...or later.
A slew of factors justify a deferral of rate increases, including:
* A parade of weak economic data from the U.S.—our key trading partner
* Core inflation that remains manageable
* Global economic risks
* Debt-laden consumers that are only cautiously spending
* A U.S. housing market that's double-dipping
* U.S. unemployment that may be structurally and permanently elevated
* A Canadian dollar that is still acting as a brake on our economy.
For reasons like these, TD Bank became the first major bank last week to predict the Bank of Canada would stand pat on rates through 2011. Depending on how the next rounds of economic data look, other banks may follow suit.
Then again, the rate picture can and does change.
BMO says: "...it is too soon to dismiss the possibility (of rate hikes in 2011)."
BoC chief Mark Carney recently said: "...The expectations, both in the medium term and sooner than the medium term, is that rates are not going to stay at these unusually low levels."
What is the connection between sales success and the way you think?
The connection is direct, very real and scientifically documented.
Dr. Martin Seligman, a University of Pennsylvania psychologist, did studies on how optimism bolstered sales productivity at Met Life, an insurance company. Seligman found that optimists sold 29% more insurance in their first year than their more pessimistic peers and 130% more in their second year.*
In order to examine the mind - success connection, let us begin by explaining some of the facts and features about your mind and how they impact your life and sales career. Some examples of how your mind works:
1. Your thoughts lead to your feelings, your feelings lead to your actions and your actions determine your results in life.
Thoughts > feelings > actions = results
This is the most important application of the law of cause and effect in your entire life.
2. You also have two minds, the conscious and the subconscious.
• One feature of the conscious mind is that it can only hold one thought at a time.
• One feature of your subconscious mind is that it forces you to act in a manner consistent with your dominant thoughts, beliefs and goals.
This magical power you have within you I call "the consistency force".
What does that mean about being successful in sales? Lots!
Examine the types of feelings you need to experience in order to be successful in sales compared to the feelings that would undermine your sales success: (remember feelings trigger actions and actions = results)
Winner vs. Struggler
Passion & Drive Confused
So what is the solution to more sales success?
Control your thoughts by design so that they generate the feelings you need to take the actions necessary for you to be an amazing sales person.
FACT: You need to feel certain things (the Winner list above) in order to take the necessary actions that = sales success.
QUESTION: So why don't you just grow those feelings?
I do and so do many highly successful mortgage professionals I have spoken with. You have a choice; you can purposefully choose to think thoughts that make you feel like a winner or you can choose thoughts that hold you down. (Struggling list)
You are free to choose what you think every minute of every day. Now the $640,000 question is what are the thoughts that will make you feel like a winner?
Here is a small list of examples. Make up your own to suit yourself, pick your 3-5 favorites and then think about them all the time**.
• I make abundant sales in any market
• I offer good value
• Things are looking great today
• I am super fit and healthy
• I can do this better than anyone
• I am energized
• I am great at prospecting
Avoid negative thoughts. Avoid dwelling on poor current results (if this applies) and instead think about exciting goals, what you really want to achieve in sales and your mind will lead you there courtesy of your consistency force.
To Your Success! Jared Dreyer
* Working with Emotional Intelligence Daniel Goleman Pg. 128
** All the time means all the time – purposefully repeat those key thoughts to yourself throughout the day.
Attributed writer: Chris Bennett. The Interview Dr.
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth in the Fraser Valley of British Columbia. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
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Jared has built his business based on a passion and commitment for delivering exceptional client service. He has provided superior financing solutions to thousands of happy clients over the past 18 years.
As a Government Relations Committee Member of the Canadian Association of Accredited Mortgage Professionals (CAAMP), Board Member and Director of the Mortgage Broker Association of BC (MBABC) for the past 2 years, Chairing the Education and Public Relations Committee, Board Member of the VERICO National Advisory Council and Director of the Mortgage Brokers Institute of BC (MBIBC), Jared works diligently to accomplish positive change within the mortgage industry.
Jared also sits on the Board of the White Rock South Surrey Chamber of Commerce and is a member of the Vancouver Board of Trade.
A strong believer in community, Jared has been very active in setting up business partnership programs for local business as well as giving initiatives to children’s’ charities locally and throughout the Fraser Valley and Metro Vancouver.