Big drop in Oaken 3-5y GIC rates ! | Oaken Financial | Discussion forum

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Big drop in Oaken 3-5y GIC rates !
December 21, 2022
6:18 am
savemoresaveoften
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Please note that effective Wednesday, December 28, we will be decreasing the interest rate for Oaken long-term GICs as noted below:

Long-term GICs:
• 3 Years GIC – 4.85% (currently 5.10%)
• 4 Years GIC – 4.65% (currently 4.95%)
• 5 Years GIC – 4.50% (currently 5.00%)
All other Oaken rates will remain unchanged.

December 21, 2022
6:27 am
Saver-Mom
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Wow, no chocolates, now this.
I guess they want us to leave…

December 21, 2022
6:30 am
canadian.100
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savemoresaveoften said
Please note that effective Wednesday, December 28, we will be decreasing the interest rate for Oaken long-term GICs as noted below:

Long-term GICs:
• 3 Years GIC – 4.85% (currently 5.10%)
• 4 Years GIC – 4.65% (currently 4.95%)
• 5 Years GIC – 4.50% (currently 5.00%)
All other Oaken rates will remain unchanged.  

Those are significant decreases.

December 21, 2022
6:35 am
savemoresaveoften
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Saver-Mom said
Wow, no chocolates, now this.
I guess they want us to leave…  

They are trying to get most people to lock in now, 7 days before the bomb drops

December 21, 2022
7:25 am
phrank
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savemoresaveoften said

They are trying to get most people to lock in now, 7 days before the bomb drops  

Yes, I think it's mind games when you look at their recent history with their 5 year rate: 4.45 to 5, 5 to 4.65, then 4.65 to 5 and now 5 to 4.5. This partly exposes how volatile things are and no one is certain about what will happen next.

December 21, 2022
11:52 am
Loonie
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What bomb?
I must have missed something.

December 21, 2022
5:00 pm
frugal lady
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Loonie said
What bomb?
I must have missed something.  

I assume referring to when 3-5 year GIC rates drop on Dec 28 referred to in post 1

December 21, 2022
5:15 pm
Loonie
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Thanks, frugal lady.
Yes, of course. I'd mis-read the date as 22nd.

December 22, 2022
11:42 am
RetirEd
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All of this might not be strategy... just part of the buy-out machinations.
RetirEd

RetirEd

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