Royal Bank of Canada Mortgage Rates

Updated May 25th, 2020

Royal Bank of Canada Background

The Royal Bank of Canada (TSE: RY) is the largest amongst the big 5 Canadian banks in terms of assets and market capitalization, and is one of the largest banks in the world. RBC began as the Merchants Bank of Halifax in 1864 and assisted merchants with their daily business activities. Since then, RBC has grown to operate in 30+ countries around the world, including Canada, the U.S. and England. They provide a diversified portfolio of financial services to customers with retail banking, commercial banking, wealth management, capital markets and insurance products being sold globally. RBC currently employs 85,000 employees and serves 16 million customers globally. They provide many unique mortgage programs to serve their large customer base.

1-Year Fixed2-Year Fixed4-Year Fixed5-Year Fixed5-Year Variable
2.89%
Get This Rate
2.54%
Get This Rate
2.74%
Get This Rate
2.99%
Get This Rate
2.45%
Get This Rate
TermRate
1-Year Fixed
2.89%
Get This Rate
2-Year Fixed
2.54%
Get This Rate
4-Year Fixed
2.74%
Get This Rate
5-Year Fixed
2.99%
Get This Rate
5-Year Variable
2.45%
Get This Rate

RBC Fixed-Rate Mortgages

RBC Fixed Rate Mortgage reduces the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers. If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Term LengthRBC RateBest Rate
1-Year Fixed
2.89%
2.58%
2-Year Fixed
2.54%
2.34%
3-Year Fixed
2.74%
2.29%
4-Year Fixed
2.74%
2.69%
5-Year Fixed
2.99%
2.23%
7-Year Fixed
3.49%
2.99%
10-Year Fixed
5.95%
3.09%
25-Year Fixed
8.75%
8.75%

RBC Variable-Rate Mortgages

RBC Royal Bank Variable Rate Mortgage provides you with fixed payments over the term; however, the interest rate will fluctuate with any changes in the prime interest rate. If their prime rate goes down, more of your payment will go towards paying off your principal; if our prime rate goes up, more of your payment will go towards interest costs. As a result, this can be a great financial tool for those expecting rates to fall in the upcoming year. A convertible mortgage allows you to convert to another term at any time. This feature provides security and flexibility, as it enables you to convert to a longer closed term should your variable rate mortgage no longer meet your needs.

Term LengthRBC RateBest Rate
5-Year Variable
2.45%
2.03%

RBC Homeline Plan®

The RBC Homeline Plan® is an all-in-one lending solution that combines a traditional mortgage with a HELOC (RBC Royal Credit Line®). One of its advantages is that you can lock-in a rate for your HELOC to protect yourself from interest rate fluctuations. You can also divide your mortgage into fixed-rate and variable-rate portions. For terms and eligibility, talk to your local RBC branch advisor.

ProgramTerm LengthTypeRate
RBC Homeline Plan®
4-Year Fixed
Fixed
2.74%
RBC Homeline Plan®
5-Year Fixed
Fixed
2.99%
RBC Homeline Plan®
5-Year Variable
Variable
2.45%
Rates shown are for closed term installment payments only. For more information, please see your local branch advisor.

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