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Where to Find the Best Savings and GIC Rates in Canada This Week

Canadians looking to stretch their savings a little further still have access to competitive high‑interest savings accounts (HISAs) and guaranteed investment certificates (GICs). Digital banks continue to lead the way, offering strong returns without sacrificing security. Here’s a quick snapshot of the top rates available this week. Highest High‑Interest Savings Account Rates Several online‑only institutions are offering some of the most attractive HISA rates right now: Saven Financial – 2.85% Oaken Financial – 2.80% EQ Bank – 2.75% Bridgewater Bank – 2.70% WealthONE Bank – 2.60% These accounts are typically insured either federally or provincially, giving savers both flexibility and peace of mind. Best GIC Rates This Week For those comfortable locking in their money for a set period, GICs continue to provide reliable, guaranteed returns. 1‑Year GIC Leaders Oaken Financial – 3.40% 5‑Year GIC Leaders EQ Bank – 3.85% Longer‑term GICs remain especially appealing for ...
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Condo market slump: GTA projects cancelled amid low demand


According to a report released today, The Greater Toronto Area (GTA) is experiencing a slowdown in condominium sales, with builders shelving dozens of new condo projects due to low sales. The number of new condominiums started construction in the GTA has hit a 10-year low of 1,798 units, down 72% from the second quarter of 2022.


The report also suggests that rising interest rates and market uncertainty have contributed to the decline in sales. Urbanation’s Q3-2023 Condominium Market Survey reveals that the number of condos sold in the Toronto region failed to reach the 3,000 mark, with only 2,664 new condo units sold throughout the GTA during the third quarter of this year .


The report attributed the surge in cancellations to a combination of factors, including rising construction costs, supply chain disruptions, labour shortages, financing challenges, and changing consumer preferences. Urbanation's president, Shaun Hildebrand, said that the GTA condo market is undergoing a "major correction" and that developers are facing "unprecedented headwinds" in bringing their projects to completion.




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