Reflections On a Year of Change & Challenge: 2020
As we reflect on 2020…. We faced many changes and challenges, and we want to say thank you to all our family, friends, and clients who have helped us achieve another successful year.
Please take this opportunity to reflect with us on the past year…
2020 started out with a big boom, a lot of renewals in the first 3 months kept us remarkably busy. Then the big COVID announcement came and everything was shut down. Being an Essential Service, we were still able to operate but had to work from home. That presented many challenges as we have not worked from home in many years and were not equipped to do so. We managed to get through it and got ourselves set up for temporary purposes. I returned to the office in July and what a relief that was. Brenda was not able to join me there until September when the boys returned to school.
On the insurance side: The insurance companies made many changes to their processes and qualifications to make the online application as easy as possible and making it safer for all involved.
When the pandemic hit, we saw a big decline on balanced portfolios; they slowly started recovering over the next month. Our portfolio saw a constant surge in positive interest, as we have our clients invested in dividend funds, as well as an Innovation Fund which participates in companies like Facebook, Amazon, Microsoft, Netflix, and Adobe. Because everyone was at home, shopping online, using Social Media, and participating in Zoom Meetings this created an incredibly positive growth environment for this fund. We are ending the year with double digit returns.
On the mortgage side: Our lenders really stepped up to the plate. With many people working from home, getting verbal confirmation of employment was a challenge. Our lenders decided to skip over that part and only use the letter, T4s and recent pay stubs. At the beginning of the year mortgage rates were well over the 2% mark on insured mortgages and the uninsured rate were over 3%. It was not long into the pandemic that we seen a regular drop in rates to the point of our current rates of 1.64% on a 5-year fixed rate mortgage that is insured. Our uninsured rates are also at their all time low of 2% on a 5-year fixed.
We have ended our year with a move! Please take note that our new office is located at 601-45th Street West. Feel free to stop by and come see us - we would love to catch up with you.
And now onto a personal note, to let you know, our family remains healthy and safe and for that we are very blessed. Our family Christmas will be quite different this year. We will exchange our gifts in the great outdoors and then open them together via Google Meet on Christmas morning. My husband and I will be delivering them their Christmas dinners via a doorstop drop before heading back home to enjoy our own dinner.
So, at this time, we want to say, “Thank You” for all your continued support and referrals. Merry Christmas! Have a safe and blessed Holiday Season!
Karen Reimer, Brenda Klassen & Wendy Klassen
If you know of someone who would appreciate the level of service we provide, please call us with their name and business number. We would be happy to follow up and take great care of them.