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Hubert Rate Increase
December 21, 2018
6:34 pm
Yatti420
Canada
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Hubert Financial
RATE INCREASE
The weather outside may be frightful, but our rates are delightful! Our one, two, three, and four year term rates are going up tomorrow morning (December 22). Our high-interest savings rate is also increasing to 2.50%.

Here is a sneak peak at the new term rates:

1-year term - 3.10% average
2-year term - 3.20%
3-year term - 3.30%
4-year term - 3.55%

As usual, you can use these rates for TFSAs, GICs, RRSPs and RRIFs, except for the 1-year rate, which is not eligible for RRIFs. Rates will be updated on the website in the morning.

VIEW RATES

Questions?
If you have any questions or if you would like to start a term, give us a shout. We're open Monday to Friday, 8 am - 8 pm and Saturday 8 am - 4 pm.

Phone: 1-855-4HUBERT (1-855-448-2378)
Email: hubert@happysavings.ca
Chat: happysavings.ca

Sincerely,
Hubert Financial

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Hubert Financial
233 Main Street Selkirk Manitoba R1A 1S1 CANADA

233 Main Street
Selkirk Manitoba R1A 1S1
CANADA

December 21, 2018
7:31 pm
Nehpets
Ontario
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Hubert is back!

December 21, 2018
7:39 pm
moneyhelp
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December 21, 2018
7:55 pm
Loonie
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i have a one-year GIC with quarterly payment coming on Sunday! This will compensate for the time when I missed a renewal by one day when rates were declining.

This may be better than chocolate! (or at least as good)

Interesting rate inversion on 4 vs 5 yrs. (5 yrs @ 3.5%)

December 22, 2018
9:53 am
ValueTime
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Dec 22 - about 10am EST I saw 2.5% now at 12:50 rate is back down to 2.3%
Sloppy! Losing my trust.

December 22, 2018
10:11 am
gicjunkie
Ontario
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ValueTime said
Dec 22 - about 10am EST I saw 2.5% now at 12:50 rate is back down to 2.3%
Sloppy! Losing my trust.  

Got an email from them saying that there was an error in their system and the new rates would not be available until tomorrow, December 23.

December 22, 2018
10:32 am
SavingIsGood
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Loonie said
i have a one-year GIC with quarterly payment coming on Sunday! This will compensate for the time when I missed a renewal by one day when rates were declining.  

Really? Are you serious? One day will make such difference for you? Really?
Unless you keep there 10 millions one day is absolutely insignificant. And if you keep there 10 mils you will not be here

December 22, 2018
12:56 pm
Loonie
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SavingIsGood said

Really? Are you serious? One day will make such difference for you? Really?
Unless you keep there 10 millions one day is absolutely insignificant. And if you keep there 10 mils you will not be here  

Yes, it does make a significant difference, but your tone suggests you are not really interested in hearing how, so I won't bore you with the details.

December 22, 2018
5:23 pm
canadian.100
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Loonie said

Yes, it dos make a significant difference, but your tone suggests you are not really interested in hearing how, so I won't bore you with the details.  

The words "significant difference" can have a very different connotation to different individuals. While one individual may find a "loss" because of lower GIC interest rate of say $200 before tax not significant, another may find the loss of GIC interest income of $25 before tax very significant.

SavingisGood's comment was not that unreasonable from his point of view.

December 22, 2018
7:54 pm
gicjunkie
Ontario
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SavingisGood's comment was not that unreasonable from his point of view.  

There are two issues here.

First, if a rate drops just one day before you have funds available for investment purposes, this lower rate affects your investment for the entire length of the GIC, not just one day, as "SavingIsGood" implied. This is more relevant in a declining market where rates are continuing to drop and there is no opportunity to recover in the near future. So, depending on the size of the investment, the degree of the rate drop and the length of the period, the lost revenue may be significant.

Second issue is the definition of "significant" and this is a relative term. Obviously what is significant to one individual, may not be significant to another. "Loonie" has expressed that his loss, due to the unfortunate timing of a rate drop, was significant to him and that he was happy to have the opportunity to have the timing go in his favour this time around. To belittle and/or deny his feelings was both insensitive and unwarranted. Nobody but he is aware of all of the the details of his investment situation, nor is it any of our business, unless he wishes to tell us.

December 23, 2018
7:05 am
JenE
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Well said, gicjunkie.

December 23, 2018
7:09 am
gicjunkie
Ontario
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JenE said
Well said, gicjunkie.  

Thanks JenE.

And the new rates have just been updated on the Hubert website.

Happy investing!

December 23, 2018
10:09 am
christinad
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Is it up to date now? When i go to buy a gic it says the rate is 2.95%

December 23, 2018
10:54 am
Nehpets
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christinad said
Is it up to date now? When i go to buy a gic it says the rate is 2.95%  

Remember that the Hubert one year GIC is step rated for each quarter:

The first three months: 2.95%.
Months four to six: 3.05%.
Months seven to nine: 3.15%.
The last three months: 3.25%.

So when you buy the Hubert one year GIC using the online interface, the rate shown is the rate for the first quarter.

Stephen

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