RBC Adjusts Residential Mortgages
- Wednesday, December 9, 2009, 7:55
- Carousel, Finance, Mortgages
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RBC Royal Bank announced on December 8th, 2009 that it will be decreasing its residential mortgage rates effectively December 9th 2009.
The changes are as follows:
| Fixed Rate Mortgages | ||
| One Year Closed | 3.40% | Decreased by 0.20% |
| Two Year Closed | 3.75% | No change |
| Three Year Closed | 4.25% | No change |
| Four Year Closed | 5.14% | Decreased by 0.05% |
| Five Year Closed | 5.49% | Decreased by 0.10% |
| Seven Year Closed | 6.65% | No change |
| Ten Year Closed | 6.80% | No change |
| Special Fixed Rate Offers | ||
| Four Year Closed | 4.09% | Decreased by 0.05% |
| Five Year Closed | 4.19% | Decreased by 0.10% |
| Seven Year Closed | 5.20% | No change |
| Ten Year Closed | 5.35% | No change |
| Variable Rate Mortgages | ||
| Variable Closed | RBC Prime + 0.00% | No change |
The rates that are indicated are special discounted rates and are not posted rates of RBC.
Special offers may be changed, withdrawn or extended at any time without notice; these rates are not available in combination with any other rate discounts, offers or promotions.
With the Bank of Canada deciding to keep the rate at its historic low, we are seeing mortgage rates decline once again, with the biggest decrease being 0.20% in the one year closed mortgage.
We should be seeing more banks bring out changes in their residential mortgages throughout the week.
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My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top.
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