The first of the major banks to lower mortgage rates following the BoC cut last week is the Royal Bank of Canada.
The first of the major banks to lower mortgage rates following the BoC cut last week is the Royal Bank of Canada. While the major lenders have all been slow to pass on savings to the housing market, RBC is now offering a 2.84 per cent rate on its 5 year fixed rate loan. There are also changes in other fixed rate products but the variable mortgages and other loan products the bank offers have not changed.
