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My Rates

6 Months 4.24%
1 Year 3.89%
2 Years 4.09%
3 Years 4.19%
4 Years 4.19%
5 Years 4.19%
7 Years 5.24%
10 Years 5.34%
*Rates subject to change and OAC
Rishel Fortugno (Tomlinson), BA(Econ), MBI , Principal Broker

Rishel Fortugno (Tomlinson), BA(Econ), MBI

, Principal Broker


Phone:
Address:
#201 -3701 Hastings Street, Burnaby, British Columbia

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It PAYS to shop around.

Many Canadian homeowners end up house rich and cash poor by paying too much for their homes because they are not getting the best mortgage financing product available in the market, and are not being 'debt effective'.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.    But I’m here to help!

I’m a Mortgage Advisor with VERICO Paragon Custom Mortgages, a local boutique office of independent mortgage experts that is also part of the national VERICO broker network.  We show you how your bank compares to the wide range of mortgage lenders out there, at no cost to you, and offer advice based on your individual cash flow and greater financial goals as to the best mortgage product to help you reach your realestate ownership goals while being 'debt effective'.

As your mortgage advisor, I look to save you money throughout the life of your mortgage, by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal, equity take-out, or future purchase. 

So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.

Get your Pre-Qualification amount!

Get a FREE credit score and your pre-qualified amount for your next home purchase.

BLOG / NEWS Updates

Higher interest rates and household debt: Cause for recession?

From National Bank of Canada There is a great deal of concern regarding the vulnerability of Canadian households not only to inflation shock but also to sharp interest rate hikes. For heavily indebted households, the bill could prove hefty. Those that contracted mortgages 4.Sx their gross income could see their monthly payments increase by $187 to $281 from 2022 to 2024 and absorb as much as 2.6% to 4.0% of their net income. At the macroeconomic level, however, the story is far different given the high proportion of properties without mortgages. By our calculations, the payment shock related to servicing the accumulated debt will represent 0.65% of disposable income over the next three years. The amount is significant but manageable in that it alone will not suffice to pull the economy into a recession. https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/special-report_220728.pdf

Prices continue to lose momentum in June

With the decrease in resale market transactions and the increase in interest rates, property price growth moderated for a third consecutive month, but still remained solid in June at 1.0% after adjusting for seasonal effects. Using the seasonally adjusted unsmoothed index, which is more sensitive to market fluctuations, the moderation is even more pronounced, with property prices essentially flat in May and June. While the Bank of Canada has indicated that it will continue to raise its policy rate and that transactions in the real estate market should continue to decline, we anticipate that the composite index should decrease by 10% by the end of 2023. The price declines have already begun to spread across the country. In fact, for all 32 markets where the seasonally adjusted unsmoothed index was available in June, 58% experienced a decline during the month, compared to 34% in May and only 16% in January. We have to go back to May 2020, at the very beginning of the pandemic when uncertainty was at its peak, to find such a large proportion of markets in decline. https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/economic-news-teranet.pdf

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