RBC cuts mortgage rates

RBC cuts mortgage rates

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.

11 Comments
  • Ken 2010-08-04 4:15:13 AM
    Canada's largest mortgage lender ?? Are you sure your info is right ?? Considering they do not participate in any mortgage brokerage network and their sales force is OK at best, their turn around time is a week and they do not have the rates offered by many other institutions - I find your comment "far etched" to say the least !! Scotia Bank was already at 4.29 for the past 2 weeks never mind 18 other lenders .. So I believe you are writing what RBC is telling you and not what is truly happening !!!
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  • Ed 2010-08-04 4:25:42 AM
    The information provided by you is irrelevant to 99% of the mortgage brokers and agents. The last information that I know of is R.B.C. DOESN'T support any brokerage house. Why was this article allowed to be printed on this form. Give us something that a mortgage house will find useful and beneficial to our industry.
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  • Zoltan M Padar 2010-08-04 4:48:29 AM
    It is only news, but why it is relevent to any Brokers its beyond me....
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