Robert McLister·Mortgage Rate Trends·October 10, 2010RBC Cuts Fixed Rates Posted 5-year fixed rates have been stuck at 5.39% since late August. Since then, the 5-year government yield has dropped 27 basis points.* On Saturday, RBC responded by trimming its benchmark posted rate to 5.29%. The nation’s biggest mortgage lender dropped its other fixed rates by 10 bps also. (See RBC rate table) RBC is now advertising 3.89% as its “Special Offer” rate but that’s merely a point of reference. Market rates for a 5-year fixed are at least 30 basis points below that. __________________________________________________ * Funding costs for 5-year fixed mortgages are based on the 5-year bond. 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.