muffin4life wrote: ↑
So much for BOC rate increase... If they keep dropping rates, the increase willl just bring it back to the before rate...
Probably preparing for the possibility that the BoC only raises rates by 0.5%, which would indicate that the gravy train is over and GIC rates will fall. But another central rate rise of 0.75-1.0% will surely bump GIC rates - for a short while at least.
Wow, took my eyes off the ball and was surprised with today's rates compared to just 2-3 weeks ago. Here's a snapshot of rates as of 09/07...
Hopefully the +0.75% in BoC rates will boost GICs. I held off buying a 270-day GIC in anticipation of a hike, and currently enjoying the last 1-2 months of a 10-month BT. Almost feel like I should've paid it off early and start a new BT.
simplypop wrote: ↑
Hmm. Wonder if Tabgerine will go higher. Hesitant to transfer money to them if lower rate than others.
I think the Tangerine and EQ raised their GIC rates expecting the BoC hike yesterday. Just my 2 cents.
Have too many phones... This is how I limit my monthly phone payment.
Public Mobile $34 15GB, $11 250MB, 2x $5 50min/50text, $0 FPL home phone,
Fido $5 4GB plan with a free tablet.
DoorCrasher wrote: ↑
rates raised again. Thanks for reporting this. 1 year is now 4.85%, 1.5 years 5%, a raise of 0.15% for both terms
0.35% rise for 3 year rates. 4.75% to 5.1% very attractive if you have spare funds.
Telus $30/25gb x 3 lines, $10/Talk& Text line - 24 mths
300 LD Can/US minutes, 2000 LD minutes to India, Unlimited CAN-Int'l Text ($0), 0$ smartwatch plan
Rogers $44.99 for 24 mths, Ignite internet
CIBC, Tang and EQ
jadoogar wrote: ↑
0.35% rise for 3 year rates. 4.75% to 5.1% very attractive if you have spare funds.
attractive, but since rates are expected to raise again (they talk about a 0.5 point raise of the BOC rate), I would not go over 1 or 1.5 years, and keep some money to invest AFTER the raise
DoorCrasher wrote: ↑
Let see if Tangerine will raise their rates for non registered GIC's
BOC raised to 3.75%
I just hedged a bit that they may lower GICs of 1+ years duration as BOC went against the forecast of 0.75 and economic data points to lower inflation...and bought Tang's 1 and a half year @ 5% GICs. Probably faulty logic on my part.
cardero wrote: ↑
I just hedged a bit that they may lower GICs of 1+ years duration as BOC went against the forecast of 0.75 and economic data points to lower inflation...and bought Tang's 1 and a half year @ 5% GICs. Probably faulty logic on my part.
Banks take into considerartion many factors when ithey announce interest rates, not only the BOC rate. Any strategy may be good. The best strategy is the one you feel comfortable with. Terms and amount of money locked into a GIC all depends of tour personnal nerfs and objectives.
