RBC cuts 5-year fixed mortgage rate, others expected to follow

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Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent.

RBC is the first of the Big Six banks to cut its advertised five-year fixed rate after a fall in five-year bond yields.

RBC says that includes the rate the bank pays in the wholesale market, increasing regulatory costs and market volatility. -CINEWS

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  1. RBC took the right step by cutting this 5-year fixed mortgage rate. Although the decrease could be a bit less, in my opinion, if they just decreased the rate to 3.8 per cent, I would be happy about it.