Robert McLister·Mortgage Rate Trends·August 16, 2010RBC Drops 2- to 10-Year Fixed Rates RBC has started off the week on a good note by dropping 2- to 10-year fixed rates by 0.10 percentage points. Its posted 5-year fixed rate will now be 5.49%, a 4 1/2 month low. RBC’s “special offer” 5-year rate is down to 4.09%. (RBC’s discretionary rates are in the high 3% range, like most of its competitors.) If the other Big 6 banks follow by Wednesday, the qualifying rate (for variables and terms under five years) will fall to 5.49% on Monday August 23. __________________________________________________ Update: For the record, TD was actually first but they didn’t do a press release. They apparently cut their rates this weekend, as can be seen here. Update2: The Big 5 banks have all gone to 5.49% on their 5-year posted rates. BMO’s 3.79% “low frills” mortgage is now the lowest advertised 5-year fixed rate among the majors. 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.