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Email this12:59 pm
March 30, 2017
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The following rates are changing as of Friday, December 30:
3 Year Non-Redeemable GIC
Current Rate: 5.05%
New Rate: 5.00%
4 Year Non-Redeemable GIC
Current Rate: 5.10%
New Rate: 5.00%
5 Year Non-Redeemable GIC
Current Rate: 5.15%
New Rate: 5.00%
3 Year Escalator GIC (1)
Current Rate: 5.05%
New Rate: 5.00%
5 Year Escalator GIC (1)
Current Rate: 5.15%
New Rate: 5.00%
3 Year Raise the Rate GIC (2)
Current Rate: 4.80%
New Rate: 4.75%
5 Year Raise the Rate GIC (2)
Current Rate: 4.90%
New Rate: 4.75%
1:25 pm
December 22, 2022
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Even though BOC rates will be going higher. Gutless move by Meridian.
1:31 pm
September 15, 2017
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While they are dropping their GIC rates, note that they are increasing their mortgage rates at the same time, including a .50% increase in the 1 yr. fixed closed mortgage rate!!
1:53 pm
October 27, 2013
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In fairness, the margin between GIC and mortgage rates was rather slim. Even with new 5 year GIC @ 5% and 5 year fixed mortgage @ 6.29%, that 1.29% (unrisked) is still thin. Not much room for error in event of some arrears/foreclosures.
3:00 pm
October 21, 2013
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Rate drops may represent housecleaning to prepare for TFSA/RSP promos in Jan/Feb.
I would think that margins might be better now than they were when rates were really low and banks were complaining about low margins.
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