Why GIC rates may soon head lower even in the wake of the BoC rate hike - GIC Wealth Management

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For Your Information Why GIC rates may soon head lower even in the wake of the BoC rate hike

Why GIC rates may soon head lower even in the wake of the BoC rate hike

As a seller of GICs and mortgages, Brandon Brot is the first to hear about how the financial industry is reacting to the recent rise in interest rates.

Every day, he receives bulletins about changes in rates for both guaranteed investment certificates and mortgages. “We’re getting mortgage rate increase, mortgage rate increase, mortgage rate increase these days,” said Mr. Brot, a principal at GIC Wealth Management. “But we don’t see anything on the GIC side.”

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