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My Rates

1 Year 2.69%
2 Years 2.69%
3 Years 2.69%
4 Years 2.69%
5 Years 2.69%
7 Years 2.99%
10 Years 3.09%
1 Year Open 1.20%
*Rates subject to change and OAC
Rishel Fortugno (Tomlinson), BA(Econ), MBI , Principal Broker

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

, Principal Broker


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#220 - 4411 Hastings Street, Burnaby, British Columbia

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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.

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BLOG / NEWS Updates

Bank of Canada maintains overnight rate target at 1 ¾ percent

The Bank of Canada today maintained its target for the overnight rate at 1 percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 percent. The global economy is showing signs of stabilization, and some recent trade developments have been positive. However, there remains a high degree of uncertainty and geopolitical tensions have re-emerged, with tragic consequences. The Canadian economy has been resilient but indicators since the October Monetary Policy Report(MPR) have been mixed. Data for Canada indicate that growth in the near term will be weaker, and the output gap wider, than the Bank projected in October. The Bank now estimates growth of 0.3 percent in the fourth quarter of 2019 and 1.3 percent in the first quarter of 2020. Exports fell in late 2019, and business investment appears to have weakened after a strong third quarter. Job creation has slowed and indicators of consumer confidence and spending have been unexpectedly soft. In contrast, residential investment was robust through most of 2019, moderating to a still-solid pace in the fourth quarter.

LISTINGS FALL AGAIN TO END 2019, PUSHING PRICES HIGHER

Canadian Real Estate Association data show that national-level home sales fell 0.9% (sa m/m) in December 2019 after rising in the previous nine months. Limited availability looks to be increasingly weighing on sales activity. The month saw another broad-based decline in new listings18 of the 31 centres for which we have data witnessed fallsthat lifted the national sales-to-new listings ratio to 66.9%. It was the highest ratio since 2004 and a third straight month of supply- demand conditions tilted in favour of sellers (after data revisions). Fourteen cities reported sellers market conditions; the rest were balanced. The aggregate MLS Home Price Index (HPI) rose 3.4% (nsa y/y), its best gain since March 2018. Montreal remained Canadas tightest local market, with rising sales and falling listings leading to yet another record-high sales-to-new listings ratio and the citys steepest y/y MLS HPI gains since 2005. Ottawas ratio also reached a new high as new listings plunged by more than 20% (sa m/m), driving a record 12.5% (nsa y/y) MLS HPI increase. Toronto also crept into sellers market territory for the first time since March 2017as in Montreal, home purchases rose and new listings felland its 7.3% (nsa y/y) HPI rise was the sharpest since 2017. Click here for more. Source: Scotiabank Economics

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