Page 10 - Sports Energy News, Cornwall, Issue No 153

10 Issue #153 October 2025 www.sportsenergynews.com

om Our
Neighbourly
Neighbourly Advice From Our Local Professionals
Advice Fr
ofessionals
Local Pr

By Brian Johnston while mortgage growth remains muted. Vice-President of Advanced Analytics
Mortgage Specialist In its Q2 2025 Consumer Credit Trends at Equifax Canada. “There are a lot of
call, Equifax said Canada’s economy challenges in terms of trading conditions
Higher renewal costs test household
is showing strain as growth slows across Canada.”Domestic demand has
budgets in Ontario and B.C., says and households face higher living cushioned the macroeconomic outlook,
Equifax costs.“GDP saw a noticeable decline in with government spending and
Equifax reports that rising renewal
the second quarter, both overall and on a consumer outlays helping to prevent a
costs are testing household budgets, per-capita basis,” said Rebecca Oakes, deeper downturn, Oakes said. However,
with Ontario and B.C. most exposed,
Continued on page 13

By Michael VanderMeer they are prequalified at the bank, they do if a home does not appraise at the purchase
Real Estate Agent not need the financing clause in their offer, price, they will not approve the mortgage
but this is a grave mistake. First off, the unless the buyer makes up the difference
MAKING A CASH OFFER. bank does not do a thorough qualification of the appraisal and purchase price. On
We are still seeing a fair amount of cash when prequalifying and problem’s can a third note, if you have less than 20%
offers and while some of these are bona arise after the offer is accepted. Secondly, downpayment, a mortgage underwriter
fide cash offers, a lot of them are buyers the home also has to meet the approval of also has to approve the mortgage.
rolling the dice because they have been the bank, there are certain properties that The only way a buyer should go in cash
prequalified. Buyers tend to think because some banks will not finance. Furthermore,
Continued on page 13

market analysts, can reveal perspectives The final piece of advice is to allow
Max Ming P.Eng. CFP ®
Financial Planner we might otherwise miss, but information unstructured time. Just as kids need room
overload can do more harm than good if to play and imagine, investors benefit from
As the school year begins, many parents we don’t focus on what truly matters. stepping back and reflecting rather than
and grandparents feel a familiar mix Another important reminder is to reacting to every headline.
of excitement and worry. How will the accept bad news without overreacting. A What makes this guidance even more
kids adjust? Will they thrive, struggle, or disappointing test score, like a dip in the remarkable is its source. It was not
surprise us in new ways? A thoughtful market, rarely warrants panic. Consistency penned by a financial professional, but
piece of advice (written by Ted Lamade and calm responses almost always yield by a school principal in 1992. More than
of Collaborative Fund) we recently came better long-term results and often become thirty years later, the lessons still hold.

across captures this balance, and, unexpectedly, it speaks just as a catalyst for growth. Patience, humility, and consistency remain
much to investing as it does to children. Then there is the wisdom of listening as relevant today as they were then—in
The message is simple: remain objective and realistic. It is not so carefully. Children and markets often classrooms, portfolios, and life itself. These
different in investing, where envy, comparison, and the temptation tell us truths we may not want to hear. are the same principles we aim to bring
to chase returns can cloud judgment. The author continues: stay Listening does not mean agreeing, but it into your financial plan: steady guidance,
open to feedback but be discerning. Teachers, like research or helps us understand the full picture. thoughtful perspective, and room to grow.

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