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With close to 20 years in the mortgage industry and a consultative touch, Nishka makes the entire process smooth and easy.
Do we renovate? Do we buy a vacation home? Do we package up our debt and add it to our mortgage? Using your home equity doesn’t have to be expensive. From re-organizing debts to parents helping their children buy homes, draw upon Nishka’s collective experience from dealing with every possible financing scenario over the past 15 years.
“Nishka has been our mortgage advisor for many years. While we have always valued her experience, excellent customer service, and advice in providing financing solutions, it wasn’t until we started our major renovation that we got to see how extensive her knowledge really is. Not only did Nishka recommend over 10 trades people to us, she also came to our home and shared some of her personal experiences, offering ideas from several of her projects on her past homes. She also drew upon the collective experiences that her clients have been through, some of which are property developers.
Working with someone who is “battle tested” has given my wife and I a huge level of comfort as we take the leap into this massive undertaking!”
– Leonard and Liana Cox – North Vancouver
As a real estate investor you want a mortgage advisor with experience. In addition to structuring mortgage financing deals for over 15 years, Nishka is also an active real estate investor herself. Having bought and sold close to 10 properties in the past 10 years, Nishka understands how real estate in the Vancouver area is an integral part of building wealth. With over 50 lenders at her disposal, Nishka can find the funds to “do the deal” and structure it in a tax efficient manner.
– Robert and Kasia
How exciting! After driving around town, visiting a million open houses over countless Saturday’s, you are ready to make an offer. Or maybe it’s just the opposite! The house that you have always found an excuse to drive by now has a For Sale sign! Suddenly the traffic on the street seems much more than usual; you know you are going to have to go into a multiple offer situation to get this one!
This is where Nishka shines! In either situation you need a mortgage advisor who can act fast to get you an approval with the right lender so you can remove that “subject to financing clause” ASAP!
“Buying a house and securing financing is a very stressful experience, however, through working with Nishka, the process was surprisingly easy. She was extremely helpful in explaining all the details to us. She has years of experience and knowledge in the industry and was creative in helping us achieve our goals. I would, without a doubt utilize her services again in the future and would recommend her to anyone looking into mortgage financing as she is one of the best at what she does!”
– John from New Westminster
– Angela
You want to explore your options. Perhaps you are tired of making appointments during “Banker’s Hours” or you would like some advice on what type of mortgage best fits with the current rate environment. With access to over 50 lenders Nishka has the ability to find the right mortgage, with the right lender that best fits your needs. Today’s mortgage financing landscape is very different than when you initially set up your mortgage. Let Nishka guide you through the new government legislation and product options.
“Nishka listened to our financial needs and knew exactly how we should proceed to achieve our lifestyle goals. Thank you Nishka – you are amazing in every way!”
– Tracy and Declan Sacre – North Vancovuer
How exciting! Buying your first home is something you will remember for a life time! Let me tell you why First Time Buyers love dealing with Nishka!
Compass™, a program available exclusively from Nishka, allows you to harness her 20 years of experience as an Accredited Mortgage Professional. First Time Buyers that have been through the Compass™ process, on average buy a home 50% sooner and at a 50% to 70% greater purchase price than those First Time Buyers that haven’t gone through the process. With Compass™ you will get the road map and the directions you need to get you moving into your very first home!
– Mike and Sherri
Nishka has been an amazing resource for our first home purchase. She was professional and thorough throughout the process and secured a great rate for us quickly and efficiently. Thanks Nishka!
– Ian and Elisabeth
“As first time home buyers, we didn’t know much about the mortgage process. Nishka made everything simple, was always there to answer questions, and catered to our personal needs in finding the right mortgage for us!”
– Jon and Cassia
“So grateful to have Nishka help us make our dream a reality!!
I can’t speak highly enough to explain how much Nishka has helped us through the process of buying our first home. She not only helped us secure a great mortgage product with one of the best rates, but in my mind she also went way outside her job description to make the entire process comfortable for us by having such a wealth of knowledge in all areas of the home buying process. I walked into her office just to explore what it would take to get ourselves into a position where we could buy our own home and with an amazing suggestion on how we could invest in RRSP’s to maximize our tax refund and then utilize our first time home buyers program we actually turned just and idea into me sitting here now in our beautiful home writing about the experience all within 6 months. There were a lot of unknowns and really big sometimes scary decisions to be made along the way when buying our house and what I loved about working with Nishka is that she was always available to return my calls. When we were hunting for houses I think I had to call her 3 times in a row to ask different questions and not once did she ever make me feel as though I was being a bother and she always had a way of leaving me feel very comfortable and confident in what I was doing. Nishka went way above my expectations and I am so grateful to have met such a great person and I will definitely be continuing our journey with her when our mortgage term comes time for renewal. If anyone is considering buying a home or is looking to find a great mortgage I highly recommend you see Nishka to discuss your options she has made our dream come true and I really know she would be helpful to anyone who is going through the process.”
– Sarah & Jay
Very happy new homeowners!!!
As first time home-buyers, my husband and I were referred to Nishka to help us secure a mortgage. Nishka was incredibly patient, meeting with us in person to answer all of our questions and coach us through the process. She also made sure to keep in touch regularly throughout our experience so we were aware of where things were at and what was required of us. Even when faced with unique challenges, Nishka went above and beyond in gathering additional information and providing guidance to us on how to navigate our situation. Overall, the knowledge she shared with us and her drive to get us set up with the best mortgage possible reduced our stress and made the entire process easy and straightforward. We would recommend Nishka to other first time home-buyers in a heart beat!
-Amy and Shaun
A Mortgage Finance Blog filled with insights on real estate!
During today’s policy meeting, Governor Tiff Macklem of the Bank of Canada decided to increase the prime rate by 0.5% versus the usual 0.25%. A rate increase of 50bps ( 0.5% ) hasn’t been done since Y2K / Dot Com bubble, which raises the question; are we heading down the road to double-digit inflation?
The short answer is no, and in this post, I’ll explain why.
The reason Central Bankers raise rates is to curb inflation and keep the economy from growing too fast. So a jump of 50bps must surely mean that the economy is growing too fast?
Not this time.
That’s because the inflation we are currently experiencing relates to supply chain issues caused by COVID combined with the events in Ukraine which is impacting oil prices and other crop related commodities. It’s the perfect storm of economic disruption, but not economic devastation.
These extra costs are filtering down to all sectors of the economy and translating into higher production costs. However, once these issues clear up, the bottlenecks in the economy will be opened up and the natural competitive environment that comes with an open capital market system will lead to prices returning to normal levels. Think: if the manufacturing cost of making widgets goes down ( lower oil prices / lower transportation cost ), and you can now make more widgets ( supply chain problems gone ), you can sell said widgets at a lower price ( supply and demand back to normal ).
But are we going to 18%?
No we aren’t. The 1980s was a very different economic period. The key economic historical events being the USA decoupling their currency from physical gold, the forming of OPEC and the resulting 2 oil embargos and the baby boomers entering the adult work force. These issues led to a period of stagflation which economists had never experienced before and didn’t know how to deal with. Trust that the Central Bankers of the world have learned from this lesson and know how to cut this one off at the pass.
But unemployment is at an all time low?
Yes, this usually keeps the Governor up late at night, and with good reason. With fewer workers to access, employers have to retain employees. How do you do that? You either pay them more or you give them more perks – both take away from the bottom line of the corporate balance sheet. The reason wage growth is a problem is simple – good luck reducing an employee’s wages. That means wage costs get baked into the cost of manufacturing/service and get transferred into the cost of the end product. So far I would say we have seen a minimal amount of wage growth ( keep in mind I see about 300 pay stubs a year ) but nothing significant. I would actually argue that we haven’t seen any wage pressure in the past decade when you factor in the productivity associated/expected from mobile devices. And to add to the lack of concern in the current low unemployment figures, David Rosenberg ( BMO’s previous Chief Economist who correctly predicted the crash of Nortel – since we are referencing Y2K ) actually said on BNN back in 2018 that the reporting of the unemployment figures is systemically flawed, with a bias to stating the figure much lower than it actually is.
So what does this mean for your mortgage? And how much higher are rates going?
To answer this question we’ll need to step into the office of the bankers who fund your mortgage. Picture if you will, a person sitting behind a large oak desk with head heavy in hand and a large glass of Alka Seltzer to their left. The reason for their high level of anxiety? The cost of mortgage funds. You see the bankers have to promise you a rate now and then go get the money to fund your mortgage later. If you know costs are rising, it makes sense ( cents ?) that you better raise your mortgage rates now, so you don’t lose your shirt later. What this means is the current five year fixed rate already has the future cost built in. This is a part of the reason why we have switched to recommending terms less than 5 years, and have made a bigger shift to variable rate mortgages for our clients that are renewing.
Recommending a variable in this rising environment? Are we crazy?!
Since 1975 variable rate mortgages have outperformed fixed rate mortgages over a rolling 5 year period. The key reason is variable rate increases tend to lag fixed rate increases ( see paragraph above regarding the banker ) and lead on the rate decreases. This lag and lead is a big part of the savings. The other aspect of the savings is the fact that variable rate mortgages are funded through entirely different mechanisms, which reduce the cost of funds risks for the banks. Even with a the expected increases in prime you’ll still be further ahead over the next 5 years than if you took today’s 5 year fixed.
But, just as we know that over the long run stocks outperform all other types of investments, not everyone has the risk appetite to be fully invested. That’s where my role as a professional mortgage advisor comes into play. Having 25 years of industry experience and a previous investment background I can help guide you through the decision making process of fixed vs variable mortgage and help you make the best for you choice.
Bottom line, if your mortgage is coming up for renewal in the next 4 – 5 months give us a call to discuss what your options are and we can help you put together a solution that fits your life goals, budget and will help you sleep at night.
Stay tuned for more updates on our blog regarding the current rate environment and how to navigate the challenges/opportunities it will present.
Stay positive, stay healthy, and call if you need to hear some sunshine!
Did you Like this post? Then you’ll Like my Facebook Page. It’s filled with current news on what’s going on in the world of real estate.
Since 1995 Nishka has been providing financing solutions for North Vancouver, Vancouver and the Tri-City areas. In that time she has come to understand one simple thing; owning real estate is a key ingredient to creating wealth. “I’ve had the opportunity to meet and interview some very successful people. The common thread between them was that they all actively used real estate to build their net worth.” With this in mind, Nishka is an active advocate in helping clients on their journey in either starting or building on their real estate portfolio. It’s not all about building wealth though. ” Living in Vancouver is a lifestyle choice. We choose a community that we feel our family will be able to connect with. Having lived in North Vancouver for close to 20 years; I am able to provide insight into the various communities and their idiosyncrasies.” When we asked Nishka what does she love about her role as a Mortgage Advisor: ” Helping people. It’s as simple as that. When I meet people they are often at the cross roads of some pretty big decisions. Providing insight from my collective experience and guiding them through the process to the solution is challenging and also exciting.”
“My wife and I were facing the exciting, but also somewhat horrifying task of purchasing our first apartment. As first time buyers, we really didn’t know a whole lot of the ins and outs of a home purchase and about all the different types of mortgages and lenders. Nishka made this whole process easy and as stress free as it could possibly have been. We were referred to her by a coworker and from day one she was absolutely wonderful. She is calm, patient, informative, extremely professional, and very easy to get ahold of if you have questions or concerns. We would highly recommend Nishka to anyone looking for a mortgage.”
– Mike and Sherri
“As first time home-buyers, my husband and I were referred to Nishka to help us secure a mortgage. Nishka was incredibly patient, meeting with us in person to answer all of our questions and coach us through the process. She also made sure to keep in touch regularly throughout our experience so we were aware of where things were at and what was required of us. Even when faced with unique challenges, Nishka went above and beyond in gathering additional information and providing guidance to us on how to navigate our situation. Overall, the knowledge she shared with us and her drive to get us set up with the best mortgage possible reduced our stress and made the entire process easy and straightforward. We would recommend Nishka to other first time home-buyers in a heart beat!”
– Amy and Shaun
“So grateful to have Nishka help us make our dream a reality!!
I can’t speak highly enough to explain how much Nishka has helped us through the process of buying our first home. She not only helped us secure a great mortgage product with one of the best rates, but in my mind she also went way outside her job description to make the entire process comfortable for us by having such a wealth of knowledge in all areas of the home buying process. I walked into her office just to explore what it would take to get ourselves into a position where we could buy our own home and with an amazing suggestion on how we could invest in RRSP’s to maximize our tax refund and then utilize our first time home buyers program we actually turned just and idea into me sitting here now in our beautiful home writing about the experience all within 6 months. There were a lot of unknowns and really big sometimes scary decisions to be made along the way when buying our house and what I loved about working with Nishka is that she was always available to return my calls. When we were hunting for houses I think I had to call her 3 times in a row to ask different questions and not once did she ever make me feel as though I was being a bother and she always had a way of leaving me feel very comfortable and confident in what I was doing. Nishka went way above my expectations and I am so grateful to have met such a great person and I will definitely be continuing our journey with her when our mortgage term comes time for renewal. If anyone is considering buying a home or is looking to find a great mortgage I highly recommend you see Nishka to discuss your options she has made our dream come true and I really know she would be helpful to anyone who is going through the process.”
– Sarah & Jay
Very happy new homeowners!!!
– Sarah
– Robert and Kasia
– Angela
“My family and I HIGHLY recommend Nishka Riley. We’ve used her expertise more then once. She, every single time, succeeded where others repeatedly kept failing. She is a Life Saver and Happiness Maker… Thank you Nishka for who you are and for helping others be where they want to be.”
– Kamal Derkaoui csc
Nishka has been an amazing resource for our first home purchase. She was professional and thorough throughout the process and secured a great rate for us quickly and efficiently. Thanks Nishka!
– Ian and Elisabeth
“Nishka has been a pleasure to work with. She is a warm and sincere person and also has great vision and knowledge.”
– Juliette Schmerler
“I’ve known Nishka for several years and have found her to consistently be a knowledgeable expert in the field of mortgage financing. I would highly recommend her services to anyone requiring mortgage advice or insight related to financing a real estate transaction, either for personal use or investment purposes.”
– Gord Trembath
The service that Nishka provided was exceptional. Not only did she find me a great mortgage but also gave me some common sense solutions for future investments. I would highly recommend Nishka to my friends and family, and look forward to working with her in the future.
– Mark Walker
Quoted in:
December 2011 Issue October 2011 Issue
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