Has anyone had sold their GICs early Ive heard Nesbit Burns sells them? | General financial discussion | Discussion forum

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Has anyone had sold their GICs early Ive heard Nesbit Burns sells them?
January 24, 2024
6:35 pm
hayman
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I have 10 year GICs paid monthly at 5.7%. 600k worth and I have an opportunity on a Real Estate deal but may just wait a couple more years to remortgage a couple properties. My wife isn’t working at the moment (started her own business) so credit isn’t great. Just a thought.

January 25, 2024
9:28 am
kesa
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there is a secondary market for some GICs. YMMV

January 25, 2024
10:23 am
AltaRed
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When I asked this question of RBC DI back in 2015 when settling an estate, they said there was a secondary market but: 1) it was the wild west and predatory, and 2) one does not know in advance what they will get for a price. I was strongly advised to not go this route as an Executor.

I suspect the value in the secondary market would, at best, be principal plus accrued interest, but only if the yield at the time was well above market. Anything remotely close to market yield would be sold at a significant discount.

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