Current RBC Fixed and Variable Rates
RBC offers both fixed-rate and variable-rate mortgages. Fixed-rate mortgages lock in an interest rate for a set term, giving you predictable payments. Variable-rate mortgages have an interest rate that can move with prime rates, though your payment amount typically stays steady for the term. As of the latest data available, RBC's prime rate is 4.45%.
The table below shows RBC's posted rates and special discounted rates for popular terms. Posted rates are the list rates shown publicly, while special rates are discounted offers for well-qualified borrowers. Your actual rate will depend on your financial situation and other factors.
| Term | Posted Rate | Special Rate (Uninsured) | APR (Special) |
|---|---|---|---|
| 1-year fixed | 5.49% | 4.89% | 5.02% |
| 2-year fixed | 5.39% | 4.79% | 4.85% |
| 3-year fixed | 6.05% | 4.49% | 4.53% |
| 4-year fixed | 5.99% | 4.84% | 4.87% |
| 5-year fixed | 6.09% | 4.89% | 4.92% |
| 7-year fixed | 6.40% | 5.00% | 5.02% |
| 5-year variable | 4.45% | 3.95% | 3.98% |
Sources: NerdWallet Canada, Forbes Advisor Canada
Factors That Influence RBC Rates
Mortgage rates at RBC, like at other Canadian banks, are influenced by the Bank of Canada's policy rate. The Bank of Canada's policy rate has been at 2.25% since January 28, 2026, with no change announced on July 15, 2026. This policy rate affects the prime rate that banks charge for variable-rate mortgages. When the Bank of Canada lowers its policy rate, the prime rate typically decreases, which can lead to lower mortgage rates.
Your own mortgage rate will also depend on factors such as your creditworthiness, down payment, property type, and the mortgage term. RBC's special rates are often available to well-qualified borrowers. Variable-rate mortgages at RBC are quoted as prime plus or minus a certain amount, and converting to a fixed-rate mortgage is allowed at any time without penalty.
- Bank of Canada policy rate: currently 2.25%, which influences prime rates and variable mortgage rates.
- Prime rate: RBC's prime rate is 4.45%, serving as the base for variable-rate mortgages.
- Insured vs. uninsured: high-ratio (insured) mortgages can come with lower special rates.
Sources: Royal Bank of Canada, NerdWallet Canada
RBC Rate Overview: Posted and Special Offers
Here is a closer look at RBC's rates for key terms, including both posted and special rates. These figures give you a sense of what RBC offers, but keep in mind that rates can change and your own quote may differ.
Sources: NerdWallet Canada, Forbes Advisor Canada
How to Get a Personalized RBC Rate Quote
RBC mortgage rates change frequently, and published rates may not reflect your personal circumstances. To get the most accurate rate quote for your situation, it's best to contact RBC directly or work with an RBC mortgage specialist.
Here are key steps to obtain a current RBC mortgage rate quote:
- Review current posted and special rates on RBC's official website.
- Prepare your financial information, including income, down payment amount, and desired mortgage term.
- Contact RBC online, by phone, or visit a branch to discuss your options.
- Provide your details to receive a personalized rate quote that reflects your creditworthiness and other factors.
- Ask about current promotional offers, such as the limited-time offer of up to $5,900 in value with an eligible mortgage.
Sources: Royal Bank of Canada, NerdWallet Canada
Resources to Support Your Mortgage Journey
Understanding mortgage rates is essential, but there's more to learn about the mortgage process. Explore these resources to help you make informed decisions about your home financing.
- Compare Rates: Compare RBC rates with other lenders to find the best deal.
- Fixed vs. Variable: Understand the differences between fixed-rate and variable-rate mortgages.
- Calculator Guide: Learn how to use mortgage calculators to estimate payments.
- Apply Guide: Step-by-step guidance on applying for an RBC mortgage.
Sources: Royal Bank of Canada
Frequently asked questions
What are the current RBC mortgage rates?
As of the latest available data, RBC's posted rates for fixed-rate closed mortgages range from 5.39% for a 2-year term to 6.40% for a 7-year term. The posted 5-year fixed rate is 6.09%, and the posted 5-year variable rate is 4.45%. Special discounted rates for well-qualified borrowers range from 4.49% for a 3-year fixed to 5.00% for a 7-year fixed. For the most up-to-date rates, consult RBC's official website or contact RBC directly.
Sources: NerdWallet Canada, Forbes Advisor CanadaHow often do RBC mortgage rates change?
RBC mortgage rates can change at any time, often in response to movements in the Bank of Canada's policy rate. The Bank of Canada's policy rate has been at 2.25% since January 28, 2026, and no change was announced on July 15, 2026. When the Bank of Canada changes its policy rate, RBC's prime rate and variable mortgage rates may adjust accordingly. Fixed mortgage rates may also change based on broader market conditions.
Sources: Royal Bank of CanadaSources
- Current Mortgage Rates | RBC Royal Bank of Canada — Royal Bank of Canada
- RBC Mortgage Rates - NerdWallet Canada — NerdWallet Canada
- RBC Mortgage Rates 2026 — Forbes Advisor Canada
- Variable Rate Mortgage | RBC Royal Bank of Canada — Royal Bank of Canada
- Managing your RBC mortgage — Royal Bank of Canada
- Bank of Canada interest rate update (July 15, 2026) - Royal Bank — Royal Bank of Canada