Implicity lowers GIC rates | GIC discussions | Discussion forum

I see that many Manitoba based virtual offerings are lowering their rates. Achieva, Accelerate, and Outlook have also reduced their rates over the last couple of days. I think this has to do with the Mortgage market as they have all reduced their mortgage rates. They can't make money paying more for their deposits than they can charge lending that money out. We'll see how long it lasts. I suspect that as soon as the banks raise their mortgage rates, they'll likely follow and also raise thier deposit rates again. Most of the declines have been on the longer end of the term lengths with no change on savings and little change on the 1 and 2 year rates which most people have been investing in anyways. Implicity aoppears to still offer the highest rates on savings and the 1 and 2 year terms, non-registered and TFSA.