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

  • Last Updated:
  • Oct 25th, 2020 10:48 pm
Sr. Member
User avatar
Jan 14, 2004
831 posts
72 upvotes
CIBC has a 1.78% 5Yr Variable Quick Close 60day with $3000 cashback right now (Uninsured in my case/+20% Down) if mortgage comes out of a cibc account. Not sure if it would be the same for a renewal as im purchasing.
Newbie
Aug 16, 2009
62 posts
5 upvotes
My offer for RBC renewal:

3 year fixed 1.84%

4 year fixed 1.89%

5 year fixed 1.99%

5 year variable 1.8%

Pretty Standard - nothing special
Newbie
May 28, 2020
20 posts
4 upvotes
Experts, I have been offered 1.85% fixed, uninsured, 25 yrs amortization from TD.
Tried Scotia eHome and getting 1.88% for same.
What do guys think about this ?
Is it a sweet deal to close now with TD ? I have a closing in another 3 weeks.
Any tips/suggestions are highly appreciated.
Newbie
Sep 8, 2020
2 posts
2 upvotes
RagaAmber wrote: Experts, I have been offered 1.85% fixed, uninsured, 25 yrs amortization from TD.
Tried Scotia eHome and getting 1.88% for same.
What do guys think about this ?
Is it a sweet deal to close now with TD ? I have a closing in another 3 weeks.
Any tips/suggestions are highly appreciated.
Are they offering cashback?
Jr. Member
Dec 26, 2010
134 posts
44 upvotes
Simcoe County, Ontar…
price31 wrote: The lowest I've gotten is 1.78% 5 years fixed with TD this is for a refinancing and 2300$ cash gift

BMO offered 1.74% 5 years fixed cash gift is only 700$
Damn. BMO has only offered me 2% to renew with them. Although when I called a couple of weeks ago, it was higher. Is that for a new mortgage?
Jr. Member
Aug 1, 2010
103 posts
54 upvotes
Kreuger wrote: Damn. BMO has only offered me 2% to renew with them. Although when I called a couple of weeks ago, it was higher. Is that for a new mortgage?
refinance
Newbie
May 28, 2020
20 posts
4 upvotes
DaanishS50001 wrote: Are they offering cashback?
Yes, $1000. Payments should come from TD account.
House price is around $500,000, 20% down.
Are you into mortgage process ? If yes, what best rates are you getting ?
Newbie
May 28, 2020
20 posts
4 upvotes
price31 wrote: The lowest I've gotten is 1.78% 5 years fixed with TD this is for a refinancing and 2300$ cash gift

BMO offered 1.74% 5 years fixed cash gift is only 700$
This looks great Ok Hand Sign.
I am also negotiating with TD and as of now 1.85 offered for new mortgage for 20% down with $1000 cashback.. House price is $500,000.
Your cashback numbers are great, is your mortgage amount more than 500K ?
Jr. Member
Aug 1, 2010
103 posts
54 upvotes
RagaAmber wrote: This looks great Ok Hand Sign.
I am also negotiating with TD and as of now 1.85 offered for new mortgage for 20% down with $1000 cashback.. House price is $500,000.
Your cashback numbers are great, is your mortgage amount more than 500K ?
Under 400k
Was also offered variable at 1.65% but trying to get 1.55%, not easy
Sr. Member
Sep 20, 2007
847 posts
304 upvotes
GVRD
ronmexico wrote: My offer for RBC renewal:

3 year fixed 1.84%

4 year fixed 1.89%

5 year fixed 1.99%

5 year variable 1.8%

Pretty Standard - nothing special
I do have pretty much same offer right now and my renewal is coming up soon (Sept 25). I would probably go with 5 yr variable at 1.8%.
Newbie
Jul 2, 2020
44 posts
14 upvotes
price31 wrote: Under 400k
Was also offered variable at 1.65% but trying to get 1.55%, not easy
What justification or rate match did you provide/submit to get the 1.65% variable from TD because it presumably required discretionary approval?
Jr. Member
Aug 1, 2010
103 posts
54 upvotes
Noviverde wrote: What justification or rate match did you provide/submit to get the 1.65% variable from TD because it presumably required discretionary approval?
Just hustling, keep on pushing and saying you have an offer at other banks, which I do but I also bluff a little to push each bank to go against each other
Jr. Member
Jan 3, 2008
190 posts
12 upvotes
Victoria
I'm sure this question has been asked over and over again, so forgive my ignorance. How do mortgage broker rates and the overall total cost of the loan compare to banks like RBC? I ask because I have a friend that sells RBC mortgages and will just give us the best loan he can without any haggling. And it sounds like RBC is offering cash back, etc. Meanwhile, we've been referred to a highly successful and smooth talking broker in town that claims to not only help us find the right mortgage, but help us on the financial planning side of things.

We are looking to become first time home buyers in the new term, and looking at either buying a house with suite, house with suite potential, or possibly a legal but non-stratified duplex (where we live on one side, rent out the other, and ideally stratify and sell the units separately later). We both have good credit, the income to easily cover the payments in the price range we're looking at, job security, and we will be paying 20% down. I'm guessing we'd do a variable rate with a 30-year term, or 25-year if it makes more sense to do so.

It seems like our prospective broker talks a lot about "purchasing power" giving them an advantage as a wholesale customer with banks, that gives them an advantage over going with banks directly. But they haven't quoted us any rates, and are focused on getting our application processed first. I'm reluctant to do a hit on our credit without knowing a little more about what we're getting into. The broker also promotes his ability to help us with planning etc, and even with the stratification process if we take the duplex, as he's done the same thing with properties in the past. RBC seems to be offering competitive rates, as well as things like cash back, bundle discounts, etc (which I understand may end up being trivial in comparison to the overall loan). And it seems like a way less "salesy" relationship.

Any thoughts/recommendations? I'd very much appreciate input from people on here.
Newbie
Dec 7, 2014
43 posts
Markham, ON
Does anyone know what's the best rate for renewal for the big banks? TD offered me 1.97% for 4 or 5 years. Thanks

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