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New Lower Rates, Effective 2day :-(
August 30, 2024
9:12 am
Dean
Valhalla Mountains, British Columbia
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.
Today's email from Hubert . . .
.

    Rate updates, effective: August 30, 2024

    High-interest Savings: 3.10%

    Variable Rate (TFSAs, RRSPs, FHSAs, and RRIFs): 3.15%

    Registered and Non-Registered Terms (TFSAs, RRSPs, FHSAs, and RRIFs)

      One-Year Quarterly Term: 4.50%*

      One-Year Non-Redeemable: 4.65%*

      Two-Year Term: 4.55%*

      Three-Year Term: 4.25%*

      Four-Year Term: 4.20%*

      Five-Year Term: 4.10%*

      *Asterisks indicate an updated rate.

    All deposits including interest are guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM).

.
It was bound to happen. I'm surprised the old higher rates lasted so long !

    Dean

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

August 30, 2024
9:32 am
AdrenalineTrade
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I saw that. They just nuked their one year quarterly term. From 5.25% avg to 4.5% avg in one move. That is colossal. Luckily I just moved out my last few bucks from there. It was enjoyable while it lasted.sf-frown

August 30, 2024
9:46 am
Rail Baron
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The magnitude of Hubert's rate decrease, especially on the flagship 1 year quarterly, suggests that they are trying to get positioned ahead of next week's Bank of Canada (likely) rate cut.

August 30, 2024
10:43 am
CAD
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But, but, but... LOOK at the bottom of current (and previous) email from Hubert!

Earn up to 6% with Hubert quarterly, etc. Joke of the year... Nobody pays attention on anything anymore. I wonder how we survive driving on the streets...

August 30, 2024
1:00 pm
Dean
Valhalla Mountains, British Columbia
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.
Interesting . . .

Even with those rather Hefty rate cuts, Hubert still manages to stay in the Upper half of The GIC Chart !

    Dean

P.S.
CAD ... The term "Up To" is a time honored, well used marketing tool, that I don't think anyone is fooled by anymore. sf-smile

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

August 30, 2024
1:27 pm
savemoresaveoften
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Vow called them at 5:20pm yesterday to initiate a transfer in and for the 1y quarterly. Just in time.
It’s annoying that have to call in when used to be fully self serve. But then I know this 5.25 won’t last. A complete market outlier.

August 30, 2024
4:17 pm
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Dean said
CAD ... The term "Up To" is a time honored, well used marketing tool, that I don't think anyone is fooled by anymore. sf-smile  

No. It is obvious they have used the same template for this announcement.
How about 'Interest rates up to 99%!!!!'. I am sure you would like that and stop bashing Hubert 🙂

August 30, 2024
11:11 pm
Loonie
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If you substitute "less than" for "up to" in your mind when reading this, you will retain a level headed perspective. Even if it turns out to be 5.99999, which it won't, you'll be less vulnerable to the come-on if you think of it differently.

There was one of these posted at one of the big banks a while ago. People wore out their calculators trying to figure out how to reach the magic number but eventually concluded it was essentially impossible.

Personally, I don't have the patience to parse such shenanigans. They either tell me what the deal is straight up or I move on. Others may feel differently.

August 31, 2024
7:26 am
ertyu
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Hmm, I didn't even get the email, it says I'm still subscribed to rate updates.

August 31, 2024
10:11 am
Dean
Valhalla Mountains, British Columbia
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.
Hmmm ... you haven't paid your monthly dues again, eh ! sf-wink

    Dean

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

September 4, 2024
1:45 pm
woofn
BC
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Interesting to straddle a rate change ...
I requested a 18 mo 5.05% GIC on Thursday Aug 29.
It was fulfilled on Friday Aug 30
- at Friday's new lower rate,
- but the account opening date was backdated to Thursday,
- with an 18mo term that is no longer listed under "Rates".
Seems rather arbitrary to me.

September 5, 2024
8:21 am
rhvic
Victoria, BC
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rates down again today:
----------------
Rate updates effective:

September 5, 2024

High-interest Savings

2.85%*

Variable Rate Deposits

(TFSAs, RRSPs, FHSAs, and RRIFs)

2.90%*

Registered and Non-Registered Terms

(TFSAs, RRSPs, FHSAs, and RRIFs)

One-Year Quarterly Term Average

Not currently available for FHSAs

4.50%

One-Year Non-Redeemable

4.65%

Two-Year Term:

4.55%

Three-Year Term:

4.25%

Four-Year Term:

4.20%

Five-Year Term:

4.10%

-----------------

September 5, 2024
9:14 am
Dean
Valhalla Mountains, British Columbia
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.
Oops ⬆

You forgot to include this " * Asterisks indicate an updated rate."

Fortunately ... The GIC Rates did Not go down again.

    Dean

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

September 26, 2024
9:02 am
Winnie
Ontario
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And again rates down:

Non-Registered Terms, TFSAs, FHSA, RRSPs, and RRIFs*
1 year quarterly term* 4.25% (average)
1 year term 4.35%
2 year term 4.25%
3 year term 4.15%
4 year term 4.05%
5 year term 4.05%

September 26, 2024
9:34 am
Dean
Valhalla Mountains, British Columbia
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.
Yup ... 'All' Hubert's GIC rates went Down this time. sf-cry

Yet they Still remain in the Top-Half of The Chart !

    Dean

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

September 27, 2024
3:13 pm
rpotter28
Kingston, ON
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Winnie said
And again rates down: 

I just got bit by this... $150K renewing a day too late. They wouldn't give me the *old* rate of 4.65 on a 1 Year, 4.35 take it or leave it.

So I am going to my bank, RBC with it at 4.3%. I had lost my enthusiasm for Hubert anyways, so I guess it was time to switch.

September 27, 2024
4:20 pm
Dean
Valhalla Mountains, British Columbia
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.
No worries

It's all part of the normal Ebb & Flow of GIC rates. And it's one of the main reasons most of us here have accounts with a number of different FIs.

Go where the Pickens are Best, eh ! sf-smile

    Dean

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

September 29, 2024
6:20 am
KamWest
Toronto
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OMG, I miss the old Hubert interface

Good bye my old friend!!

October 15, 2024
8:32 am
Dean
Valhalla Mountains, British Columbia
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.
Effective 2day ... New, Lower Hubert GIC Rates Kick-in.

The new rates are now in the The Chart.

C'est La Vie sf-confused

    Dean

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

October 15, 2024
4:19 pm
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Dean said
.
Effective 2day ... New, Lower Hubert GIC Rates Kick-in.

The new rates are now in the The Chart.

C'est La Vie sf-confused

    Dean

  

Excellent!

I will pay less taxes on my gic. Keep them down!!!!!

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