Robert McLister·Mortgage Rate Trends·July 3, 2010RBC Quietly Cuts Rates Another 10 Bps RBC has dropped most of its fixed rates another 10 basis points—just one week after its last rate cut. It did so without issuing a press release. (For whatever reason, sometimes RBC likes the publicity and sometimes it doesn’t.) RBC’s posted 5-year fixed rate is now 5.79%, versus 5.89% last week. It’s 5-year fixed “special offer” rate has dropped to 4.39%. The other banks will probably match RBC’s reductions next week. The Big 5 has taken a lot of heat lately for keeping rates high while funding costs have plunged. ______________________________________________ Update July 5: BMO has matched RBC's rate cut. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.