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End of an ERA, GICs
January 31, 2023
6:28 pm
oltunde
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So looks like from now on Gic rates are going down! Almost half percent from last week. What do you think?

January 31, 2023
6:35 pm
lifeonanisland
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oltunde said
So looks like from now on Gic rates are going down! Almost half percent from last week. What do you think?  

Happy I got my complete ladder in at 5.6%. But...I think GIC rates will go back up again; I don't think it's the end of an era. The era that I think is coming to an end is that of cheap money. I don't think we'll see a return to ultra-low central bank rates for a long time, and maybe never. And when the public gets over the initial shock and becomes used to mortgages with actual interest, house-buying will ramp up again. With renewed mortgage lending, FIs will once again need matching deposits. Interesting times indeed.

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