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RBC Drops 3- to 5-year Rates

The nation’s biggest mortgage lender lowered its trend-setting 5-year posted and 5-year “Special Offer” rates yesterday.

RBC’s 5-year posted rate is now 5.39%, down 0.10%.  That’s 0.14% above the 5.25% all-time low set last April.

RBC’s 5-year “special offer” rate is now 4.09%.  Expect at least 3.99% in branch, assuming you’re not afraid to ask for it. (This is a discretionary rate that may not be available at all branches.)

5-year fixed rates in the broker-channel will likely keep pace. They’ve been in the mid- to upper-3% range for a while now.