Page 31 - Sports Energy News, Cornwall, Issue No 146

www.sportsenergynews.com Issue #146 March 2025 31

By Brian Johnston Five-year high ratio fixed-rate mortgages Because buyers overextended themselves is just as much, (if not more), a test
Continued from page 30 had an average interest rate of around during the pandemic years, homeowners of character and emotion than an
4.29 percent at the end of 2024, compared with relatively larger mortgages are IQ test. It is proven time and again
seeing delinquency rates slowing.” with 5.22 percent a year earlier. And five- facing higher monthly payments. that there is a huge variance between
Equifax found more than 11,000 year variable-rate mortgages, where the Equifax found that Toronto and London Investment performance and
mortgages in Ontario recorded a missed interest rate typically moves with the had higher mortgage delinquency rates Investor performance; meaning that
payment in the fourth quarter of 2024, central bank’s benchmark interest rate, than the province as a whole, with investment returns over time have
foreshadowing an increase in the 90-day had an average interest rate of 4.5 percent rates of 0.23 percent and 0.27 percent tended to be dramatically higher than
delinquency rate this year. The credit at the end of last year, down from 6.23 respectively. what most Investors actually earn.
reporting agency said mortgage holders percent at the end of 2023. The mortgage pain is expected to get This is generally due to emotional
who are falling behind in their payments However, that is still significantly higher worse this year. Canada Mortgage and reactions to external events. Given
are also carrying large mortgage than during the pandemic years, when Housing Corp. estimates that more than the chance, we educate our clients on
balances. The average balance for a new mortgage rates were below 2 percent. one million fixed-rate mortgages across the importance of following a sound
mortgage in Ontario was $434,744 at the During the 2020 to early 2022 period, the country are up for renewal in 2025. investment philosophy to limit the
end of last year. The national average, demand for residential real estate impact of emotions.
including renewals, was $344,928. boomed because mortgages were so By Max Ming Disclaimer: Equity Associates
“There are more consumers with higher cheap. The increased competition sent Continued from page 30 Inc. is registered as a Mutual Fund
balances that will see a bigger increase in home prices soaring. In Ontario, the whenever) into your own diversified Dealer & an EMD Dealer in selected
payments,” Ms. Oakes said. The financial typical home price jumped more than 70 portfolio of quality companies, your provinces. The opinions expressed in
shock at renewal is not as severe as it percent to a peak of $1,070,400 in early ‘timing’ becomes perfect. this communication are those of the
could have been. Since June, the central 2022. Home prices have since declined, 4) Emotional Quotient (EQ) is more writer and do not necessarily reflect
bank has reduced its benchmark interest but the typical home price is still nearly important than Intelligence Quotient those of Equity Associates Inc.
rate to 3 percent from 5 percent. 40 percent higher than in early 2020. (IQ). Successful long-term investing

KARATE KOMMENTS of the five original kwans that emerged
following the end of Japanese colonial
rule in 1945. General Choi urged Rhee
to change the name of his art to give
it independence from Japanese karate
By Jim Riddell, and to honour his homeland. Rhee

Seaway Karate Club agreed to the request and became the
first Taekwondo instructor in North
America. Rhee was instrumental in
the development and manufacturing
of sparring equipment for the martial
art industry during the 1970’s and
Thai and Paddle Pads
n the previous two Karate Komments columns we covered two of the most 80’s, producing gloves, foot, and shin
Icommonly used pads in karate, striking shields and focus mitts. We will now protectors, as well as head gear. The
take a look at two other types - Muay Thai and paddle pads. Similar to the kicking production of the various types of
shield and focus mitts, the holder of these pads is always in charge during drills. striking pads soon followed. One of
In most karate clubs pad holders are senior students who have been trained to hold the later pads to catch on, Paddle pads,
each type of pad properly and safely to ensure that there is no injury to either the are a very valuable training tool for the
striker or the pad holder. It is suspected that both type of pads evolved from an pad holder. They may lack the versatility of focus mitts as they don’t provide
old oriental practise of wearing a foot tong or slipper on the hand to help absorb the resistance required for high impact strikes, but they are extremely forgiving
the impact of incoming kicks. Muay Thai pads are often referred to simply as Thai on the elbow and shoulder joints of the holder. They are an excellent pad to use
pads, come in various sizes, shapes, thicknesses and weights. They also come in for timing, focus and reaction drills, and can be easily used to test the defense
the traditional flat pad or the curved model, which allows the hand to be in a more of the striker. The loud sound of a properly struck double clapper Paddle pad
natural cupped position. The type of pad each pad holder chooses is a personal provides an immediate positive training experience for the striker and encourages
preference with gender, size, age, and body type often being a factor in the decision. proper focus and technique. The Paddle pads shown in the accompanying photo
Focus mitts are easier to use if working on rhythm, timing, or reaction drills, but quickly became my favourite and, in my opinion, the best ones available. They
Thai pads are definitely superior for working on power and cardio kicking. There are manufactured and sold by Rival Boxing Gear; a Canadian company based in
is little documented history of Paddle pads, but they are rumoured to have been Montreal. These pads are designed to provide resistance during in high impact
developed by Jhoon Rhee. Known as the “Father of Taekwondo in America” the strikes while transferring no impact to the holder. The Rival Boxing Gear Paddle
Korean born Rhee began teaching martial arts in Texas during the late 1950’s. He pads are the most versatile that I’ve used, and I highly recommend them.
advertised his dojo as the Jhoon Rhee Karate Club, calling his style of Karate tang
soo do. In 1960 Rhee was visited by General Choi Hong-hi, the founder of one Karate Quote: When you lose excuses, you find results.