RE:Why does anyone think HCG makes money?because HCG charges 4.5-4.75 % for 5 year mortgages
you can't take the HSBC best client 5 year rate and try and compare it HCG's GIC rate.
if you took the time and read their annual reports you would see detailed analysis on their Net Interest margin.
In Q2, there were be a significant change because of the HOOP LOC- it will drive up their borrowing cost- it remains to be seen how long the HOOP LOC remains in place and what it will be replaced with
but to compare HSBC's mortgage rates and HCG's GIC is really assinine and belies a complete lack of understanding of this company operates. It has problems and is a risky venture but your point is off the mark. However, I helped you out by pointing out what you ought to be questioning.