Mortgage News RBC cuts 5-year fixed mortgage rate by admin January 21, 2019July 17, 2019 January 21, 2019July 17, 2019 Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent. Mortgage rate comparison website founder Robert McLister says RBC is the first of the Big Six banks to cut its advertised five-year fixed rate after a fall in five-year bond yields. McLister adds that he expects other big banks to follow suit in the coming days. When asked what prompted the rate drop, an RBC spokesperson said a number of factors have impacted the Toronto-based bank’s cost of funds. RBC says that includes the rate the bank pays in the wholesale market, increasing regulatory costs and market volatility. McLister says now that market volatility has subsided, the bank’s competitors have started undercutting big banks which puts pressure on them to act. Find out how much you can afford Mortgage Ratemortgage rate Toronto About Nest and Castle Nest & Castle Inc is a leading edge real estate brokerage based in the heart of the Greater Toronto Area (GTA). We provide creative solutions and strategic advice on all aspects of the real estate industry. Our mix of conventional real estate techniques and forward-thinking technologies makes the buying or selling of your home, an easy and enjoyable experience. Search Exclusive New Developments Looking for your Dream Home? Sell Smarter With Data. It's The Future. 0 comment previous post Avia Condos Parkside Village a Master Planned Community Mississauga next post CentreCourt introduce PRIME Condos to Toronto’s East Core You may also like GTA rents continue surge October 28, 2018 Why cash flow doesn’t matter January 25, 2019 First Look: Exchange District 2 – Mississauga August 19, 2019 These Are the Top Ontario Sellers’ Markets December 4, 2018 Breaking: Federal budget includes first-time buyer incentives March 19, 2019 First Look: 11 YV Condos August 15, 2019 First-time homebuyers can apply for incentive program in... August 28, 2019 Canada Housing Starts Highest in Nearly 13 Years September 15, 2020 Bank of Canada makes key interest rate announcement December 5, 2018