The Royal Bank of Canada, the nation's biggest mortgage lender, trimmed several of its rates on Thursday July 30.
RBC's posted 5-year fixed rate was dropped by 10 basis points to 5.69 per cent, which is the lowest it's been since March.
The "special offer" 5-year fixed rate is down to 4.29 per cent. Canadianmortgagetrends.com notes in comparison that various smaller lenders are in the 3.99 per cent range or less.
It is likely the other banks will move to match RBC's dropped rates this week.