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New Motus GIC rates
October 17, 2022
5:03 pm
Alexandra
British Columbia
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E-mail today. Some new GIC rates effective October 19th.

1 yr 4.7%; 18 Mo 4.85% 3yr 4.65% 4yr 4.7% for Non-registered GIC's

Registered .5% 0.05% higher for those same terms.sf-surprised

October 18, 2022
7:54 am
tottori88
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0.05% for registered, not 0.5%.

October 18, 2022
9:14 am
Alexandra
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tottori88 said
0.05% for registered, not 0.5%.  

Sorry, meant 0.05%. Regardless, I have been waiting for Motus to pull up their socks a bit. I will now invest some with them at the 18 mo. GIC. Will be needing funds right around then.

October 18, 2022
10:00 am
tottori88
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it seems most of these banks won't give us anything more than 5-5.25% max, esp market is expecting rates to start dropping 3rd/4th quarter 2023.

November 3, 2022
1:59 pm
Alexandre
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As of November 4, 2022.

1 Year Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 4.70% | 4.75%
New Rate: 4.85% | 4.90%

18 Month Non-Redeemable GIC - Non-Registered | Registered
Current Rate: 4.85% | 4.90%
New Rate: 5.00% | 5.05%

November 3, 2022
2:59 pm
MattS
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5.25 for 5 too

November 3, 2022
3:50 pm
lifeonanisland
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MattS said
5.25 for 5 too  

The five year terms are getting interesting. Lots of people have suggested that long terms have plateaued. I've started thinking there is actually upward pressure on longer terms...I think it's gradually dawning on people/FIs that inflation is going to be lasting longer than expected, as Powell indicated yesterday. And that there isn't going to be a return to the freewheeling glory days of cheap money and 1.75% mortgages any time soon. Saven, Steinbach, Motive, all in the 5.2% range for five years. Even stodgy Meridian raising five year to 5% tomorrow. And, through brokerages, big banks now over 5%.

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