Royal Bank Lowers Mortgage Rates

OTTAWA — The Royal Bank of Canada announced Friday is lowering residential mortgage special rates by 0.10 per cent on a dozen products effective May 28.

The bank notes that the rates are its special discounted rates, not its posted rates. To calculate a rate discount, RBC says, compare the special offer rate against the posted rate for the applicable term.

The changes are as follows:

Special Fixed Rate Offers

One-year closed 3.30 per cent
Four-year closed 4.29 per cent
Five-year closed 4.34 per cent
Seven-year closed 5.15 per cent

Fixed Rate Mortgages

One-year closed 3.60
Two-year closed 3.95
Three-year closed 4.45
Four-year closed 5.09
Five-year closed 5.49
Seven-year closed 6.45
Ten-year closed 6.85

Preferred Builder Fixed Rate Offers

Five-year closed:

18-month rate commitment 4.74 per cent
24-month rate commitment 4.94 per cent


Jamie Woodend Sales Representative
Remax a-b Realty Ltd Brokerage
88 Wellington Street
Stratford, Ontario, N5A 2L2
519-273-2821 ext 229
Office 519-949-0345 Cell