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RBC Royal Bank changes residential mortgage special rates

TORONTO, December 12, 2019 - RBC Royal Bank announced today that it is increasing rates on new residential mortgage special offers effective December 17, 2019.

The changes are as follows:

Special Offer Rates*

Three-year fixed closed

3.24 per cent  

(increased by 0.10 per cent)

Four-year fixed closed

3.24 per cent  

(increased by 0.20 per cent)

Five-year fixed closed           

3.24 per cent  

(increased by 0.20 per cent)

“We consider a number of factors when making changes to mortgage rates, including our funding costs and market conditions. Based on current conditions, our rates reflect the right balance between our clients’ expectations and our costs of funding mortgages,” said Mary Ellen Brown, Senior Vice-President, Home Equity Financing, RBC. “We continue to operate in a low-rate environment, and are committed to helping clients understand the full cost of home ownership. We encourage homebuyers to do their homework, take the time to know what’s right for them when it comes to buying a home, and call or meet with us should they have any questions.”

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Media contact:

Jill Anzarut, RBC Communications, 647-534-5118

* The rates indicated are special discounted rates and are not the posted rates of Royal Bank of Canada. To calculate a rate discount compare the Special Offer rate against the posted rate for the applicable term.

Special Offers may be changed, withdrawn or extended at any time, without notice. Not available in combination with any other rate discounts, offers or promotions.