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Mark Norman Mortgage Team

Yearly Archives: 2019

Recession is coming…

Recession is coming…
Not if, but when... For the last 5-6 months, I've been telling anyone who would listen that the USA (and subsequently Canada)  is due for a major recession. Since the beginning of the "Great Recession" that sent the stock markets tumbling in 2008, the US has not only recovered but they've been on a "Bull"…
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2019 Budget: What does it mean for housing market in NL?

2019 Budget: What does it mean for housing market in NL?
Well, in short, not much. I've seen the Global and CBC headlines shared out by countless Real Estate and Mortgage Professionals in the past 36 hours. I've actually had to go back and re-read it several times as it seems some are seeing it as "great news for buyers" but  it's really much ado about…
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Variable Rate Mortgage? Switch and save $5000 or more!

Variable Rate Mortgage? Switch and save $5000 or more!
Tick-tock... If you've negotiated a variable rate mortgage over the past 3-4 years, and stuck with it, you're probably in a prime minus .35-50% product. This would put you in the 3.50% range This was an excellent deal back then, but only so-so today. Timing is everything Well, we're currently seeing limited time discounts that…
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When is the right time to refinance my mortgage?

When is the right time to refinance my mortgage?
Taking out some equity from your home to pay off higher interest debts can make sense! 80% is the magic number when looking to refinance.When seeking a refinance,  the government will only allow you to pull out equity up to 80% of the value of the home.As an example:Current mortgage balance: $300,000Current value of home:…
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