Refinancing is good for more than just mortgage rates + MORE Jan 10th

Finally, some good news for benefit plans – they’re at their healthiest levels in over a decade, according to pension consulting firm Mercer. This is also good news for companies who saw their pension funding status plummet after the subprime mortgage crisis in 2008. The improvements come as a result of higher bond yields, which push interest rates higher – great for savers, if not so much for those trying to score a mortgage.
Bull Market, Rising Interest Rates Help Pensions
A whopping 40 per cent of defined benefit pension plans reached fully funded status at the end of last year, according to Mercer. This is a huge improvement from the beginning of 2013, when only six per cent of plans were fully funded.
2013 was a banner year for defined benefit pension plans, which reached their healthiest funding levels in 12 years. While the markets have seen plenty of ups and downs over the last decade, 2013 represented a return to stability. Pension plans benefited immensely from favourable market conditions – stock markets and long-term interest rates rose, while the Loonie weakened…

Ultra-low mortgage rates aren't just benefiting homebuyers. Current homeowners looking to save money on their monthly mortgage payments are taking advantage of low interest rates by refinancing. However, saving on mortgage rates isn't the only reason to consider refinancing. The act of refinancing provides mortgage holders with a number of options, and it's a good idea for all homeowners to explore these. Even if taking out a brand new mortgage to replace a current one doesn't make sense based on interest rates alone, the other opportunities refinancing provides should not be ignored.
Shortening or lengthening term length
While refinancing for lower mortgage rates can affect how much money a borrower is required to pay each month on their home loan, shortening or increasing term length can have an even more dramatic effect on monthly payments. Increasing term length will result in lower monthly payments, as it gives borrowers a longer period of time to repay their loan…

TORONTO – The latest Royal LePage housing survey shows average price of a home in Canada increased between 1.2 per cent and 3.8 per cent in the fourth quarter of 2013.
It says the average cost of a standard two-storey home rose 3.6 per cent year-over-year to $418,282, while detached bungalows went up 3.8 per cent to $380,710.
Royal LePage says the price of a standard condominium rose 1.2 per cent during the quarter to an average of $246,530.
The real estate company says prices are expected to maintain a ‘‘healthy momentum‘‘ this year and rise a projected 3.7 per cent over 2013.
CEO Phil Soper says late 2013 saw the housing market transition to ‘‘buoyant sales volumes‘‘ and above-average growth.
He says that in the absence of ‘‘some calamitous event or material increase in mortgage financing costs,‘‘ he expects positive momentum to characterize 2014.
“We predict continued upward pressure on home prices as we move towards the all-important spring market.‘‘ he said…

Toronto StarMounties' suspicions over Mac Harb mortgages backed by bankToronto StarOTTAWA — The Royal Bank of Canada has confirmed to the RCMP it believes retired Sen. Mac Harb's failure to disclose the transfer of his Cobden home to a Brunei diplomat put two mortgages taken out against the property at risk. And now the RCMP has …Mounties investigate further fraud charges against former senator Mac HarbOttawa CitizenMac Harb, Former Liberal Senator, Target Of RCMP Fraud ProbeHuffington Post Canadaall 4 news articles »

January is all about reinvention – everywhere you look, there are ads, headlines and products targeting the desire to make the coming year a new and improved one.
It’s also a time of summing up the year past, and moving forward with lessons learned. To make 2014 your most prosperous year yet, we’re proud to introduce this year’s Best of Finance awards, showcasing the best personal finance products and resources – and we want to hear from YOU. Take a moment to fill out our Best of Finance Consumer’s Choice poll – there may even be a prize in it for you!
Disinflation: The Hot Button Topic For 2014
Disinflation is anticipated to be a pressing economic issue in 2014, as the cost of goods and services fail to grow fast enough to support the economy. Healthy inflation is needed for stable economic growth, but consumers must also be prepared for rising interest rates when growth eventually picks up the slack.
Read Rubina’s Blog | Disinflation: The Hot Button Topic For 2014
A Chilly Start For 2014 Mortgage Rates
2014 is certainly off to a frigid start, temperature-wise – and the housing market appears to be following suit…