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GIC Wealth Management Broker Rates
January 27, 2023
11:31 am
canadian.100
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HermanH said
Kevin Rotenberg just got the rate sheet for next week and rates are dropping significantly. 1-yr to 5% from 5.35% and worse. If you want something, you better get it to him today.  

Not surprised - we know rates have plateaued and have started to go lower. I noted earlier in the week that Scotiabank GIC rates on iTrade site have dropped to 1 year 4.9, 2 year, 4.44, 3 year 4.27, 4 year 4.17, 5 year 4.12. Just recently 1 year Scotiabank on iTrade site was @ 5.05%. Highly likely that rates from other FIs will also be under 5% by end of February. HISA rates also likely have peaked.

January 27, 2023
11:53 am
HermanH
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Got my request into GWealth just under the wire. Had to ask DUCA to do a direct pull from my HSBC account. Hope that it goes through. I'm just glad that DUCA is willing to take a direct withdrawal with a void cheque, as a paper cheque would not have arrived in time. As I understand it, not many institutions are willing to accommodate purchasers by allowing direct withdrawal of funds.

January 28, 2023
7:27 am
savemoresaveoften
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HermanH said
Kevin Rotenberg just got the rate sheet for next week and rates are dropping significantly. 1-yr to 5% from 5.35% and worse. If you want something, you better get it to him today.  

wonder if broker rates are down universally next week or just 1y and 2y rates ?

January 30, 2023
10:15 am
canadian.100
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HermanH said
Kevin Rotenberg just got the rate sheet for next week and rates are dropping significantly. 1-yr to 5% from 5.35% and worse. If you want something, you better get it to him today.  

There don't seem to be any rate changes so far on GIC Wealth site today Mon Jan 30.

January 30, 2023
10:29 am
Loonie
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four and five years are down significantly

January 30, 2023
10:41 am
HermanH
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canadian.100 said
There don't seem to be any rate changes so far on GIC Wealth site today Mon Jan 30.  

I think that he was quoting for my situation in Alberta. The Y1 5.53% rate is not available to me.

[edit] My mistake. I called and he was able to get me 5.53% for 1-yr with East Coast CU.

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