Royal Bank Decreases Residential Mortgage Rates

Photo by Douglas Sprott
Photo by Douglas Sprott

The Royal Bank of Canada has changed its residential mortgage special rate offers. The new rates came into effect March 16, 2011.

Special closed four- and five-year offer rates have been decreased to 4.19 per cent. The seven-year closed offer rate has been cut to 5.10 per cent, which is the most significant decrease (of 20 basis points). The same cut has been made with seven-year closed rate mortgages, the rate of which is now 6.40 per cent.

There is only a small difference between seven-year and ten-year closed rate mortgages (0.20%) as ten-year rate mortgages have been decreased by 15 basis points.

Short-term closed fixed-rate mortgages have remained at the same levels: 3.5 per cent for one-year; 3.75 per cent for two-year; and 4.35 per cent for three-year.

FIxed Rate Mortgages
FIxed Rate Mortgages
Special Fixedd Rate Offers
Special Fixed Rate Offers
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