RBC Royal Bank Mortgage Rates

Compare how competitive current RBC Mortgage Rates are against other banks, brokers and credit unions across Canada. Whether you're looking for a fixed or variable mortgage, by comparing the market you'll be sure to get the best deal on your Royal Bank mortgage rates.

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Are you looking to save money on your mortgage? Heck - who isn't? Give us your info and we'll use our crazy smart mortgage search engine to compare the market and find you the best rate. Ready? Set? Go ahead and see how much you can save:
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Property Value The value of your new dream home (an estimate is fine).
Down Payment The initial upfront portion that you need to pay for the home. Your down payment needs to be at least 5% of the property value and 20% to avoid mortgage default insurance.
Mortgage Balance How much you still owe on your mortgage.
Additional Cash OPTIONAL - Refinancing? Add how much extra you're looking to borrow against the capital you have already built up in your home. Just remember - you can't go over a total mortgage value of 90% of your property value.
Mortgage Value The amount of money you'll need to borrow (but don't worry, we've calculated this for you).
Mortgage Type Fixed vs Variable
FIXED: mortgage rate does not change during your term - in other words you are locked in. VS. VARIABLE: mortgage rate changes during the term with the lender's prime rate.
Open vs Closed
CLOSED: you cannot pay off your mortgage early during the term without being charged a penalty. VS. OPEN: you can pay off your mortgage early with no penalty during the term.
HINT: Help! I'm a Mortgage Newbie, if you're not sure what to choose you're probably looking for a closed rate.
Mortgage Term How long the mortgage agreement is set for.
HINT: Help! I'm a Mortgage Newbie, if you're unsure what to select a five year term is the most popular choice.
Amortization Term How long it will take you to pay off your mortgage. If you're buying a home, the default value is 25 years.
Payment Type Basically how often you want to make your payments each month.
WISE MOVE: Looking to save MORE on your mortgage? Choose a rapid payment schedule.
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RBC Mortgage Specialists Mortgage Rates

Last Updated: May 25, 2013 09:30:51
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    More about RBC Mortgage Rates

    RBC mortgage rates include fixed rate mortgages and variable rate mortgages along with an extended range of mortgage solutions to suit your needs. These solutions include the RateCapper Mortgage, RBC Homeline Plan, Energy Saver Mortgage, Cash Back Mortgage, Self-Employed Mortgage and Vacation Home Mortgage.

    The RateCapper Mortgage is a variable rate mortgage with a maximum "capped" rate for a 5-year term. This protects you from rate increases if RBC mortgage rates increase beyond the "capped" rate. If rates go down, you will naturally be given the lower rate.

    The Royal Bank of Canada Homeline Plan is a solution to manage your mortgage and line of credit in one plan while consolidating existing debt to save on interest charges.

    Who doesn't love the environment? The Energy Saver Mortgage provides you with a $300 rebate on your home energy audit to reduce home energy cost and increase home energy efficiency.

    The Cash Back Mortgage provides you with cash back payments when your mortgage is advanced. The amount of cash back is based on the size and term of your mortgage, up to 7% of its value.

    If you are a business owner, the RBC Self Employed Mortgage gives you the option of financing up to 90% of the value of your home.

    Looking to purchase a second home or a vacation property? The Vacation Home Mortgage might be an ideal choice for you. This gives you the option of financing up to 95% of the value of your new property.

    Other Important RBC Mortgage Rate Details

    • RBC offers a "skip a payment mortgage option" provided that your current mortgage balance combined with the amount of payments you wish to skip does not exceed the original mortgage amount and you are not in debt with your mortgage. In this case, you have the option of skipping a monthly mortgage payment once a year. There is no extra fee for this option, and you have the flexibility of repaying your skipped payment at anytime throughout the term of your mortgage.
    • Royal Bank of Canada mortgage agents are available and can provide you with advice on Mortgage pre-approval, purchasing real estate, moving your mortgage to RBC and mortgage rate inquiries realtor referrals. He or she will explain the types of mortgages available along with the terms and RBC mortgage rates to help you chose the mortgage best for you.

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    Popular Mortgage Types

    5 Years Fixed - Closed Mortgage Rates Show More Fixed Closed Rates
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    5 Years Variable - closed Mortgage Rates Show More Variable Closed Rates
    1 Year Variable - open Mortgage Rates Show More Variable Open Rates