The Globe and Mail reports in its Wednesday edition that with the Bank of Canada beginning an easing cycle that is expected to consistently deliver dropping interest rates, the days of high returns with guaranteed investment certificates, or GICs, and other low-risk investing products are coming to an end. Guest columnist Salmaan Farooqui writes, however, that they are still a strong option for aspiring homeowners who are taking advantage of the first home savings account, or FHSA. Rates for GICs soared above 5 per cent for one-year terms when interest rates peaked. Some on-line banks were offering one-year rates as high as 5.6 per cent in 2023. Today, returns have dropped to around 4.2 per cent at Tangerine and EQ Bank, but as the next few months are poised to be an opportune time for prospective home buyers, they are one category of investors that could greatly benefit by using a GIC in their FHSA. First, they offer zero downside risk on your precious down payment that could be needed within short notice; second, they offer a safe way to benefit from the FHSA's powerful tax-sheltering benefits. Someone making $80,000 that deposits the yearly contribution limit of $8,000 would save $1,604 to $2,372 in taxes that year.