Une nouvelle année bissextile est déjà amorcée ! Cette période coïncide avec réflexions et résolutions. Après avoir passé en revue les 12 derniers mois, nous cherchons des solutions pour améliorer notre santé, notre vie personnelle et professionnelle et nos finances.

 Photo : Agence QMI

Voici donc mes douze meilleurs vœux pour 2012 :

1) Protéger les régimes de retraite – Que le nouveau comité d'experts formé par la Régie des rentes du Québec en vienne à trouver une solution pour protéger nos régimes de retraite lorsqu'une entreprise se retrouve en difficulté.

2) Conserver son emploi - Que l'économie se stabilise. Que cessent enfin les mises à pied et que nos emplois soient préservés.

3) Cotiser au CELI en respectant les limites – Que les titulaires de CELI apprennent à maîtriser parfaitement les règles de ce compte libre d'impôt afin d'éviter les pénalités sur les cotisations excédentaires (1 % par mois pour chaque mois où les cotisations excédentaires demeurent dans le compte) et de profiter pleinement de tous les nombreux avantages de ce véhicule d'épargne.

4) Cotiser au REER avant le 29 février 2012 – À cause de cette année bissextile, que les contribuables qui veulent réduire leurs impôts n'attendent pas au 1er mars pour le faire. Il sera trop tard.

5) Organiser ses finances – Établir son budget. Mettre en plan des prélèvements automatiques pour cotiser au REER ou au CELI ou tout simplement pour payer ses factures à temps.

6) Surveiller sa cote de crédit – Demander son relevé de crédit et vérifier son historique. Apporter les modifications nécessaires pour mettre son dossier à jour. Il est possible d'en faire la demande gratuitement par la poste auprès d'Équifax Canada et Trans-Union.

7) Payer les soldes de vos cartes de crédit le plus rapidement possible – Que les personnes trop généreuses qui se sont endettées durant le temps des Fêtes puissent rembourser le solde de leurs cartes de crédit rapidement.

8) Réduire le niveau d'endettement – Au Canada, le ratio de l'endettement par rapport au revenu personnel disponible s'élevait à 152,98 % dans les derniers mois de 2011. Que les ménages et les gouvernements en arrivent à un équilibre budgétaire en diminuant leurs dépenses.

9) Augmenter ses connaissances financières – Que les personnes en quête d'autonomie financière assistent à des programmes mis en place pour acquérir des connaissances sur l'établissement d'un budget, l'épargne, le crédit, les placements, la prévention de la fraude et la planification financière.

10) Demeurer vigilant en tout temps – Que vos achats en ligne s'effectuent sur un site sécurisé et de préférence, auprès d'entreprises reconnues. Vérifier toujours vos transactions sur vos cartes de crédit.

11) Arrêter de procrastiner – Pourquoi toujours remettre à demain ce qu'on peut faire aujourd'hui. N'attendez plus avant de mettre en plan vos actions qui vous permettront d'atteindre vos objectifs.

12) Agir au lieu d'espérer – Pour bien débuter votre année 2012, faites de vos résolutions un plan d'action pour que vos finances s'en portent définitivement mieux. L'atteinte de ces objectifs ne vient pas sans effort ni responsabilité.

Tous mes meilleurs vœux de santé financière et d'accomplissement de vos projets les plus chers.

It's a decision that millions of Canadian homeowners struggle with repeatedly during their time as homeowners: Do they choose the security of a fixed-rate mortgage, or opt for the flexibility (and usually lower cost) of a variable rate and hope that rates don't spike higher? But right now, conditions in the mortgage market mean homeowners can actually get the best of both worlds, according to market-watchers.

For years, we’ve seen evidence that people who opted for variable-rate mortgages ended up saving money over the fixed-rate crowd —anywhere from 77 to 90 per cent of the time, depending on the period selected and the assumptions used.

Despite that, 60 per cent of the 5.8 million mortgages out there are fixed-rate mortgages, and the five-year term is especially popular. Another 31 per cent of mortgages are variable- or adjustable-rate. The rest are hybrids that a bit of both types of mortgage built in.

In the past year, we’ve seen evidence that people have been starting to swing more towards variables (see table). But in the past few months, two things have happened in the Canadian mortgage market that may have the “variable-is-best” crowd changing their minds … or at least re-thinking what used to be an easy decision.

Variable has a catch

First of all, the traditional discount that lenders used to apply to variable rate mortgages is fast becoming a thing of the past.

“In the last couple of months, there’s been a big shift back to fixed rates,” says mortgage broker Robert McLister, who edits the popular mortgage news site CanadianMortgageTrends.com. “The average discount went from prime minus 0.80 per cent to prime minus a quarter,” he told CBC News.

That puts a typical five-year variable-rate mortgage around 2.75 per cent.

At the same time, McLister says fixed rates have dropped. Mortgage brokers can arrange a five-year fixed-rate mortgage for as little as 3.25 per cent – or about two full percentage points below the posted rates at the big banks. That rate represents a spread of just half a percentage point over the variable-rate mortgage. McLister says the spread between these two is normally 125 basis points or more (1.25 percentage points).

At this point, you may be thinking that people who have variable-rate mortgages still can't lose, because they can always choose to lock in to a fixed-rate mortgage at any time. Very true. But McLister points out that people who do this typically don’t get the lowest rates.

That’s not too surprising. After all, you can’t change lenders when you switch from a variable to a fixed mortage without paying a penalty, and your lender knows this. “The rates that lenders give to people when locking in are always at least a quarter percentage point above what’s available elsewhere in the market,” he says.

McLister also points out that it’s never immediately clear where or when mortgage rates will bottom out. “Some people may think about getting a variable in hopes of riding down rates if they drop further,” he says. “The thing is, if you’re that good at predicting interest rates, you’d make a lot more money as a bond trader.”

What people are choosing

Source: CAAMP/Maritz survey, Fall 2011

Fixed-rate bargains

Of course, there are other reasons besides interest rates that can sway someone’s decision on mortgage type. If someone needs to break a five-year fixed rate mortgage early, for example, the penalty (based on what’s called the interest rate differential) can be many thousands of dollars. With a variable-rate mortgage, the penalty is never more than three months interest.

But some people will always opt for fixed-rate mortgages simply for the security of knowing that they won’t be affected by any future upswing in interest rates – at least until their mortgage comes up for renewal.

Here’s another reason to consider fixed-rate mortgages. Some lenders have chosen to stake out some market share by offering exceptional bargains at terms other than five years.

The four-year fixed-rate mortgage – not a mainstay among the big banks – has become a battleground among some other lenders that mortgage brokers use. Brokers can arrange a four-year fixed-rate mortgage for 2.99 per cent at a few non-bank lenders, and the range generally available right now goes from 2.89 per cent to 3.09 per cent. One big bank lender – Scotiabank – offers a two-year fixed-rate mortgage for 2.49 per cent, which is even less than what lenders charge for a variable-rate mortgage.

As for the future, some mortgage experts see the variable-fixed spread continuing to narrow.

'Variable mortgage rates will stay at current levels well into 2012'—RateSupermarket.ca

"Variable mortgage rates will stay at current levels well into 2012," says a panel of five mortgage industry and academic experts surveyed by RateSupermarket.ca in December.

At the same time, the panel members predicted that fixed mortgage rates would stay low or drop further over the next 30 to 45 days, noting that there's less demand for home loans over the holdays.

Still not sure what to go for? Fixed or variable? Short or long-term?

Either way, the good news is that rates are at historic lows. Rest assured that you can’t go far wrong these days, no matter which direction you go in.

“The cost of choosing the wrong term has probably never been lower,” says McLister.

gillian livingston

Globe and Mail Update

Posted onThursday, November 10, 2011 6:00PM EST

Buying her first house and getting her first mortgage was an overwhelming experience for Roslyn Judd.

She had signed a deal to buy a new house, she had put down her deposit, and she was pre-approved for a mortgage. Now she had to sign a final deal with her bank to lend her hundreds of thousands of dollars.

“I had never applied for a mortgage before and I found that [to be] the most intimidating part of the home-buying process, so I was procrastinating,” she says. “I think it was the enormity of the money that you are asking somebody to lend you.”

Then a friend in the building where she works suggested she check out her company’s website, RateSupermarket.ca to compare mortgage rates and talk with one of the mortgage brokers featured on the site.

So she did, and her mortgage broker was able to get her a deal with a seasoned lender whose rate was much better than what her bank had offered.

“It was the best because it was so personal,” she says. “It was like someone was holding your hand all the way through the process.”

Rona Birenbaum, a certified financial planner with Caring for Clients in Toronto, recommends all her clients seek the help of a mortgage broker when it comes time to buy a house, or refinance or renew a mortgage.

“It’s the most efficient way to get the best-priced and best-structured mortgage,” she says. “Bottom line.”

“So rather than shopping at multiple financial institutions and negotiating with each financial institution and arm wrestling them to give you the best deal, it’s one phone call and they do the rest for you.”

Vancouver mortgage broker Jessi Johnson says a mortgage broker can help you with all aspects of a mortgage, from figuring out how much you can truly afford, to determining the best mortgage product for you, to finding ways to save you money and pay off your mortgage faster.

In addition, you should expect your mortgage broker to review your mortgage a few times a year to see how you can pay it off faster, whether it’s still the right product for you, and if it’s still competitive. “It’s very rare that you’re going to get that service from a bank,” he says.

For people who are inexperienced with negotiating, who aren’t sure what the best mortgage product is for them or have a less-than-stellar credit rating, they can save time, money and hassle by using a mortgage broker, says Ms. Birenbaum.

“For the average person who would maybe not feel comfortable negotiating, who might feel as though they are not in the position to ask for a better rate, they definitely will [save],” she says. “A half per cent over a 20-year mortgage, is tens of thousands of dollars. It could be potentially huge money.”

But those interested in using a mortgage broker need to do some research, says Ms. Birenbaum.

The brokers she recommends are people with whom she has developed a professional relationship, and she knows they will do a good job because they’ve worked with her clients.

“There’s a wide range of experience, qualifications and quality in this particular industry,” she says. “So reputation and experience are extremely important.”

People ask their financial adviser to recommend a mortgage broker, or they can turn to others who recommend their broker.

Mr. Johnson says you should look for someone with several years experience, who is licensed, and has the title AMP – accredited mortgage professional.

Mortgage brokers are regulated provincially so you can check with your provincial regulator on the website for the Canadian Association of Accredited Mortgage Professionals. The organization also has an online directory that can help your search for a broker.

“Like every industry there are rookies, so be careful when researching your broker, get a good idea about their experience before proceeding,” he suggests.

Many brokers now do the bulk of their work online, Mr. Johnson says, and that’s not an issue as long as there’s enough communication with the client either via e-mail or over the phone – and their online application process is secure.

“To be honest, the majority of our clients don’t leave their living room, and I don’t blame them,” he says.

If a broker asks for a retainer of any sort or any payment made out to them personally, that should be a warning sign, Ms. Birenbaum says.

Mortgage brokers are paid their fee by the lender, not by the person who is using the mortgage broker’s service, says Mr. Johnson. “There’s no cost for the client.”

Be aware though, whether you’re doing a new mortgage, a refinancing or renewal, to ask whether there are any legal or appraisal fees, he says. Legal fees for a new mortgage can be about $1,000, but sometimes a lender may cover both legal and appraisal fees; you just have to ask.

Right now, one of the big questions for those looking for a mortgage is whether to go for a fixed or variable mortgage, says Mr. Johnson. While historically variable mortgages have had better rates than fixed mortgages, that’s not necessarily the case right now.

“Any time the fixed and variable rates are very close I do recommend going fixed and they are close right now,” he says. Up until recently about 90 per cent of the mortgages he arranged were variable, but now more are fixed.