Discount to Prime Rate Is Reduced by RBC and Other Lenders Will Follow

August 23, 2011

RBC has signaled to reduce the discount to prime for its variable rate mortgages. Today, RBC's variable rate is at Prime - 0.65%. However, tomorrow (August 24, 2011), the variable rate is going to be at Prime Rate - 0.45%, 0.20% increase on the rate at RBC.

If you are in the market for a variable rate mortgage, you may want to contact Valueland to lock a variable rate at Prime - 0.85% or better for 120 days or a preapproval for 180 days right away.

Contact Valueland immediately.