Oct 17 GIC rate increases | Hubert Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Oct 17 GIC rate increases
October 17, 2023
5:52 am
NorthernRaven
Moderator
Moderators
Forum Posts: 626
Member Since:
August 4, 2010
sp_UserOnlineSmall Online

Hubert today increased GIC rates, the 5, 4, 3 and non-redeemable 1-year went up by 10 basis points. The 1-yr quarterly-term cashable rate did not go up. It looks like they are building up a gap between it and the regular 1-year, as the cost of the quarterly/cashability advantages. If so, it will still be useful as a higher-paying HISA alternative/90-day GIC, but it won't be quite as attractive as before when it was paying out the Manitoba CU 1-year rate.

One-Year Quarterly Term
5.20%

One-Year Non-Redeemable
5.55%*

Two-Year Term:
5.65%

Three-Year Term:
5.25%*

Four-Year Term:
5.05%*

Five-Year Term:
5.05%*

October 17, 2023
7:57 am
friskyib
British Columbia
Member
Members
Forum Posts: 117
Member Since:
August 29, 2023
sp_UserOfflineSmall Offline

I received same email.

??Sooooooo is this an indication of rates up of down??

Strange behaviour in my opinion. Second change of rates during a myriad farces through a conversion process, only to muddy the water a bit more.

Bottom line I remain on course. Use what they are good for and remove the rest.

October 17, 2023
10:30 am
everhopeful
Member
Members
Forum Posts: 92
Member Since:
September 28, 2023
sp_UserOfflineSmall Offline

The 1,3,4,5 non-redeemable GIC's went up 0.1%. Quarterly and HISA rates are unchanged. The quarterly GIC is the only product I am interested in, to my knowledge nobody else offers anything like it with >5% rate.

Please write your comments in the forum.