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

  • Last Updated:
  • Oct 19th, 2020 4:31 pm
Deal Addict
Aug 5, 2015
2053 posts
1339 upvotes
Montreal, QC
Folks, when stating the details of your term please specify location, mortgage amount and if it's a new purchase or renewal (on top of if it's insured or not) as it all influences the rate one can get. It's meaningless without all details.
Happy Koodo Public Mobile customer :-)
Member
Apr 5, 2017
444 posts
92 upvotes
Hello folks,
My mortgage is coming up for renewal in Dec 2020. I already have a pre-qualification from a different lender for my renewal and still planning to shop around. Now what happens ,if I change my job or do a part time instead of full time before my actual renewal date ? Is it better not to change the job or it doesn't matter at this point as I already have a pre-qualification ? Kindly advice.
Deal Addict
Apr 13, 2006
1072 posts
110 upvotes
Mississauga
MK1986 wrote: Hello folks,
My mortgage is coming up for renewal in Dec 2020. I already have a pre-qualification from a different lender for my renewal and still planning to shop around. Now what happens ,if I change my job or do a part time instead of full time before my actual renewal date ? Is it better not to change the job or it doesn't matter at this point as I already have a pre-qualification ? Kindly advice.
Very much matters... you’re qualified based upon your current scenario. If things change, your approval can as well.
Newbie
Jul 7, 2020
26 posts
9 upvotes
RBC does not re-qualify you for renewal

No Re-qualification Required : If you're renewing an RBC Royal Bank mortgage, you don't have to re-qualify at renewal time. If your mortgage is held by another financial institution, we can make it easy to switch to RBC Royal Bank2.

https://www.rbcroyalbank.com/mortgages/ ... newal.html
Deal Addict
Dec 27, 2012
1264 posts
535 upvotes
Burnaby
Greatkim wrote: Offed 4year fixed 1.79 5year fixed 1.89 today

I will take 5year fixed. Uninsured
Offer same through TD...
Newbie
Jul 21, 2017
87 posts
21 upvotes
just wondering ,whats the lowest rates offered so far for 5 year fixed and 3/5 year variable respectively ?
Newbie
Sep 14, 2020
1 posts
Just signed today for 1.79% fixed five year with TD. Refinancing. 15 yers amortization.
Newbie
Oct 29, 2018
7 posts
13 upvotes
Question about “insured” mortgage and renewals. I started a high ratio insured mortgage through CMHC and Meridian held my mortgage. I renewed with meridian once and am up for renewal again early in the new year. Do I get to maintain that “insured” status throughout the life of my mortgage or only for that first term? I could call and ask but it’s more curiosity than me needed to know so I’m hoping someone knows the answer.

Thanks
Newbie
Aug 12, 2018
40 posts
20 upvotes
Renewal is tomorrow. Wondering whats the lowest rate for 5 year variable uninsured.
Sr. Member
Sep 20, 2007
847 posts
304 upvotes
GVRD
WaleedS4429 wrote: Renewal is tomorrow. Wondering whats the lowest rate for 5 year variable uninsured.
I got 1.80% for 5 year variable and 1.89% for 5 year fixed. I'm going with 1.89% fixed. Initially, they offered 1.99% fixed. When I asked to match Tangerine (1.84%/1.86% APR), they came back with 1.89%. I'm fine with losing out on 0.03% APR. RBC has been good for me. Btw, it's uninsured mortgage.
Member
Feb 9, 2018
378 posts
276 upvotes
Stkitts30 wrote: Question about “insured” mortgage and renewals. I started a high ratio insured mortgage through CMHC and Meridian held my mortgage. I renewed with meridian once and am up for renewal again early in the new year. Do I get to maintain that “insured” status throughout the life of my mortgage or only for that first term? I could call and ask but it’s more curiosity than me needed to know so I’m hoping someone knows the answer.

Thanks
Yes, you maintain that insured mortgage status through the mortgage life if you are only renewing each time. If you refinance, then you may lose the status.
Newbie
Aug 16, 2009
62 posts
5 upvotes
ndy4eva wrote: I got 1.80% for 5 year variable and 1.89% for 5 year fixed. I'm going with 1.89% fixed. Initially, they offered 1.99% fixed. When I asked to match Tangerine (1.84%/1.86% APR), they came back with 1.89%. I'm fine with losing out on 0.03% APR. RBC has been good for me. Btw, it's uninsured mortgage.
Got offered the same deal. My renewal is a month out so have a little time to decide or shop around.
Newbie
Jul 21, 2017
87 posts
21 upvotes
Folks
Need your suggestions !
I have been offered following rates by CIBC for uninsured mortgage renewal
  • 5 yr fixed 1.70%
  • 5 yrs variable flex 1.65%
  • 3 yr variable Flex 1.61%
Finding it a bit difficult what to choose .

What is your expert suggestion on this i.e. which option I should opt for , keeping in view that rates may fall further and at the same time spread between fixed and variable is only 5 to 10 basis points ?
Sr. Member
Jun 10, 2017
640 posts
839 upvotes
aaleemm wrote: Folks
Need your suggestions !
I have been offered following rates by CIBC for uninsured mortgage renewal
  • 5 yr fixed 1.70%
  • 5 yrs variable flex 1.65%
  • 3 yr variable Flex 1.61%
Finding it a bit difficult what to choose .

What is your expert suggestion on this i.e. which option I should opt for , keeping in view that rates may fall further and at the same time spread between fixed and variable is only 5 to 10 basis points ?
Great rates.. I'm envious.. I ended up with rbc 1.8 for renewal.. 5yr variable.

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