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Hubert silent rate raise?
February 2, 2023
6:48 am
phrank
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I didn't receive any notification, but I happened to be browsing rates and saw the rates are higher than in the current chart and the 2 year may be tempting to some:

Non-Registered Terms, TFSAs, RRSPs, and RRIFs*
1 year quarterly term*
4.85%*
2 year term
5.25%
3 year term
4.85%
4 year term
4.90%
5 year term
5.00%

Daily Savings
High-interest savings account
3.40%
TFSAs, RRSPs, and RRIFs
3.40%

February 2, 2023
7:22 am
c
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Very nice. Up to 4.7% for the first 3 months of the 1 year GIC.

February 2, 2023
7:53 am
TommyT
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They probably know the January CPI in Canada will be higher than the December CPI last year. Tiff may be forced to raise the Bank of Canada rate after the January CPI and January core CPI is made public.

February 2, 2023
7:58 am
TommyT
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phrank said
I didn't receive any notification, but I happened to be browsing rates and saw the rates are higher than in the current chart and the 2 year may be tempting to some:

Non-Registered Terms, TFSAs, RRSPs, and RRIFs*
1 year quarterly term*
4.85%*
2 year term
5.25%
3 year term
4.85%
4 year term
4.90%
5 year term
5.00%

Daily Savings
High-interest savings account
3.40%
TFSAs, RRSPs, and RRIFs
3.40%  

4 year term should come due just before the next peak in interest rates. 2 years likely about 6 months before the trough in rates when it comes due. My guess is the first rate cut will be March 2024.

February 2, 2023
8:55 am
smayer97
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TommyT said
They probably know the January CPI in Canada will be higher than the December CPI last year. Tiff may be forced to raise the Bank of Canada rate after the January CPI and January core CPI is made public.  

It is incorrect to believe that the CPI drives interest rates. It is actually the short-term bond market (3-6 months)...PERIOD. You can actually see this for yourself and can EASILY anticipate the next rate moves. Has been so for DECADES. Just pull up a chart and see it very objectively.

The government ALWAYS FOLLOWS and NEVER LEADS!

Since I studied this recently, I no longer have to wonder. Takes away the mystery COMPLETELY.

TIP: Use Tradingview.com browser-based charting and add symbols CA03MY, CA06MY and CAINTR onto the same chart. For US, add symbols US03MY, US06MY and USINTR.

TIP 2: Though the respective bond markets often follow a similar pattern, Canada NEVER follows the US... it simply follows its respective Bond market, which sometimes does differ.

February 2, 2023
9:26 am
Rail Baron
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It is good to see Hubert climbing back up in the GIC and HISA charts. Their last set of rate adjustments was not very attractive to me, and I moved about half of my deposits there elsewhere since December. But things are looking up now.

Why have they stopped sending out email alerts of rate changes?

February 2, 2023
9:54 am
Nehpets
Ontario
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Rail Baron said
........Why have they stopped sending out email alerts of rate changes?  

Hubert email advising of rate hikes arrived at 12:50 pm, 24 minutes after your post sf-wink.

Stephen

February 2, 2023
10:33 am
phrank
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Nehpets said

Hubert email advising of rate hikes arrived at 12:50 pm, 24 minutes after your post sf-wink.

Stephen  

It must have been a glitch in the simulation sf-wink

February 2, 2023
10:38 am
MAC99
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Missed by a day so I've just collapsed five 1 year terms created yesterday @ 4.6% to now yield 4.85%.

I also received the email w/ time stamp of 12:50pm today.

For fixed term I've shovelled some cash over to Saven for 5.3% 1 year rate. I just wish they were as quick as Hubert in moving funds, 5 days seems a bit absurd.

February 2, 2023
11:29 am
Dean
Valhalla Mountains, British Columbia
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.
Thanks for the Heads-Up, Phrank ❗

I'm Really liking that 2Yr GIC @ 5.25% sf-smile

    Dean

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

February 2, 2023
11:38 am
savemoresaveoften
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Dean said
.
Thanks for the Heads-Up, Phrank ❗

I'm Really liking that 2Yr GIC @ 5.25% sf-smile

    Dean

  

I may fall for that 2y too. Even tho I am convinced in 2ys time at renewal rates will be lower lol

February 3, 2023
5:58 am
jhawk124
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it looks like RRSP season competition has caught up with the Hubert rates & they had no choice but to raise their rates.sf-laugh

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