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GIC Rates Through Brokers Now Exceed 6%
October 23, 2023
6:11 am
GR
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Today, (some) GIC brokers are offering 6.02% p.a. for 1 year with Windsor Family Credit Union ($5k) and Wealth One Bank ($25k); also 6.04% for 2 years with same two F.I. and same minimums.

October 23, 2023
11:03 am
Dean
Valhalla Mountains, British Columbia
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.
Yup ... although it's getting a bit Long-In-The-Tooth,
it looks like this Run ain't over yet !

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

October 23, 2023
11:14 am
althisa
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GR said
Today, (some) GIC brokers are offering 6.02% p.a. for 1 year with Windsor Family Credit Union ($5k) and Wealth One Bank ($25k); also 6.04% for 2 years with same two F.I. and same minimums.  

Good to know, waiting on upcoming news next week and next month

All eyes on the ... Bank of Canada interest rate announcement Wed 25th Oct
https://tradingeconomics.com/canada/calendar

Then on the US Fed Decision on interest rate in November

All the while keeping an eye on the Canada 5 year bond
https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

October 25, 2023
8:17 am
NorthernRaven
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By the way, I couldn't seem to find a link to it on their site, but GICdirect seems to maintain a daily update PDF page of their highest rates, which includes the provider and minimum:

https://www.gicdirect.com/images/documents/ratesheet.pdf

Although some of the nonreg annual rates differ from their website by a few basis points.

Note that their highest 5-year annual rate (from MCAN) for nonreg seems to have a $100,000 minimum, while the rate for 5yr RRSP (also MCAN) is only a 25,000 minimum. I think you can get the $25K rate for unreg at 5 basis points less, according to MCAN's own PDF chart. Under $25K MCAN is non-competitive, something like a 2% drop.

October 25, 2023
8:38 am
gicjunkie
Ontario
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NorthernRaven said
By the way, I couldn't seem to find a link to it on their site, but GICdirect seems to maintain a daily update PDF page of their highest rates, which includes the provider and minimum:

https://www.gicdirect.com/images/documents/ratesheet.pdf

Although some of the nonreg annual rates differ from their website by a few basis points.

This site also shows additional options for each investment length and amount:

https://www.finctr.ca/rates/newhighr.pdf

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