Quote:
Originally Posted by Izzle
Banks take the elevator up when it comes to raising mortgage rates. But they tend to take the stairs up when it comes to raising GIC rates. I'd probably wait for a bit. EQ Bank 1 year GIC is 5%, which is the same back on Jan 11, 2023 the last time I checked.
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5 year bond rates are actually down about a quarter percent since then though. The market has started to assume the BoC is just about done raising and will start cutting, whereas previously more raises were baked in.
The 5 year government bond rate is actually below 3%.
https://www.marketwatch.com/investin...countrycode=bx