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Locked: [Royal Bank] RBC new 3-4-5 year mortgage rates

  • Last Updated:
  • Oct 27th, 2020 11:44 pm
Jr. Member
Sep 26, 2006
109 posts
73 upvotes
Toronto
Can anyone confirm where these are posted. My broker from RBC provided 2.09 5 year fixed for 30 years- rental property.

Wondering if I can go lower.
[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
GSD wrote: I have a rental and Scotia is offering me 2.06% 5 yr variable. What is the rate RBC giving you?
Anything above 5 units is considered commercial for RBC. Anything less than 5 units, you can get the rates I posted.
Financial and Debt Advisor
[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
jambo87 wrote: Can anyone confirm where these are posted. My broker from RBC provided 2.09 5 year fixed for 30 years- rental property.

Wondering if I can go lower.
Sorry, they are for amortizations of 25 years or shorter. I'll update the OP.
Financial and Debt Advisor
Member
Apr 13, 2005
452 posts
124 upvotes
Dealfiber wrote: I got mine renewed at RBC in December getting 5 year closed at 2.69. do you think it's worth to look into breaking the mortgage and locking in cheaper rates?
Don't they charge a huge penalty for breaking fixed mortgages?
[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
Dealfiber wrote: I got mine renewed at RBC in December getting 5 year closed at 2.69. do you think it's worth to look into breaking the mortgage and locking in cheaper rates?
Use this calculator to find your break even rate : https://www.rbcroyalbank.com/cgi-bin/mo ... ulator.cgi
Financial and Debt Advisor
[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
https://ibb.co/F0mhMQ9
My renewal rates. Check the link, I can't post the image for some reason.
Last edited by MTLGuru on Aug 10th, 2020 7:27 pm, edited 6 times in total.
Financial and Debt Advisor
Sr. Member
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Oct 14, 2005
525 posts
51 upvotes
I called RBC and got them to match hsbc a few weeks ago at 2.09 but when I ask them to match tangerine at 1.99 they told me no after going through their national mortgage department.
[OP]
Member
Oct 27, 2009
291 posts
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Montreal
husdaman wrote: I called RBC and got them to match hsbc a few weeks ago at 2.09 but when I ask them to match tangerine at 1.99 they told me no after going through their national mortgage department.
New rates came out for RBC on the 7th, try again now, you should have more success.
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[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
zylonite wrote: Where do you actually see these rates?
I first saw them online, on my own renewal. I am trying to post my offers but can't seem to do it :P. Check the link on OP for the screenshot.
Last edited by MTLGuru on Aug 10th, 2020 7:22 pm, edited 1 time in total.
Financial and Debt Advisor
[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
Kaminakun wrote: Thank you OP for posting these rates and cash back.
However, do you have a link or something with these posted rates? Couldn't find them on the RBC site.
RBC does not post rates. I got those rates on my online renewal, check the linked image on OP.
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Jul 5, 2005
3033 posts
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Toronto
MTLGuru wrote: You can do better. As posted, the minimum you can get is P-60% without negotiating. Your banker has discretion without "requesting an exception".
Even on a rental without CMHC?
Newbie
Oct 24, 2019
9 posts
2 upvotes
Does anyone know what the lowest possible 5 year fixed rate is with RBC following the Aug 7th update? I've heard rumours of 1.84, but nothing lower than that.
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Nov 7, 2013
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Montreal
i have signed 5 years fixed rate at 2.79% on Dec 2019,
you think it is worth to pay the fees and change to open term?
❗ We buy things that we don't need, with money that we don't have, to impress people that we don't like. ❗
[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
eggnogchestre wrote: Does anyone know what the lowest possible 5 year fixed rate is with RBC following the Aug 7th update? I've heard rumours of 1.84, but nothing lower than that.
Possible, my mortgage is +- 250 000 and I am able to get 1.94% so I reckon a bigger mortgage could get better than 1.94%.
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[OP]
Member
Oct 27, 2009
291 posts
1446 upvotes
Montreal
Bessem wrote: i have signed 5 years fixed rate at 2.79% on Dec 2019,
you think it is worth to pay the fees and change to open term?
Use this calculator to get your break even rate and see if its worthwhile : https://www.rbcroyalbank.com/cgi-bin/mo ... ulator.cgi.
But why would make it an open term?
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