There were no press releases this time, just a quiet note in the blog of the Canadian Mortgage Trends. The Royal Bank of Canada has been and will be reducing its mortgage rates, giving as a reason the recent lowering of prices by some mortgage lenders. This decision could have a significant domino effect, as many industry players in the banking industry follow the lead of the largest mortgage lender in the country , according to the report of The Globe and Mail.
The Royal Bank’s new fixed five-year mortgage rate stands at 3.69 per cent. It reduced all other mortgage rates for the next two to five years by 10 basis points.
The Royal Bank’s new fixed five-year mortgage rate stands at 3.69 per cent. It reduced all other mortgage rates for the next two to five years by 10 basis points.
