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Still far from the peaks of a few months ago thoughohnabatko wrote: ↑ Hold your horses for a week and then things will clear our
5YR and 10YR bonds are on the rise: https://ca.investing.com/rates-bonds/ca ... bond-yield
my bet is GIC %s will edge-up
And I just put some money in yesterday on a 2 year term for 5.25%. Wonder if it's worth the hassle to call in and ask them to readjust my term to 18 months at 5.39% since I see it hasn't finished processing yet because I still don't see it in my account yet.
And I just put some money in yesterday on a 2 year term for 5.25%. Wonder if it's worth the hassle to call in and ask them to readjust my term to 18 months at 5.39% since I see it hasn't finished processing yet because I still don't see it in my account yet.
Are you talking about cashable GIC? Otherwise how can you lock 6-12 months GIC when you will buy a house this year? You never know which day the condition is metLukus2017 wrote: ↑ Need some advice. We might want to purchase a house later this year if the right conditions materialize. I would be considered a first-time homebuyer so the $35K RRSP for a down would apply.
I currently have $27K in an RRSP with CIBC but it barely pays 1% interest. It matures in February.
I also have about 33K in cash to invest short term. I still have room to contribute to my RRSP (target is 35K) and I've never contributed to a TFSA.
So here's what I'm thinking of doing but my lack of knowledge with investment is limiting my options...
- Move my CIBC RRSP to a different financial institution that offers a better rate, possibly a RRSP GIC locked in for 6 to 12 months (4% return?).
- Top off my RRSP contribution to bring its total to 35K so that if we do buy a house, I can use my RRSP as a down payment.
- Invest the rest (about 25K + Tax Refund) in a TFSA GIC account, again on a 6 to 12 month term at about 4%.
My bank also suggested another investment option, Market-linked guaranteed investments where it could pay out a decent return but it requires a longer commitment. We need a little bit of flexibility given we may want to buy a house so locking anything more than a year could prove restrictive.
Any suggestions welcome!
I had no issues going from Tangerine to Meridian and then back to Tangerine when they offered the 5% promotion for 5 mths.
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