Posted By Peggy Hill on July 26th, 2010
RBC Royal Bank® RateCapper® Mortgage at Prime Offer Has Been Extended
Recently, RBC Royal Bank announced the introduction of the RateCapper mortgage at prime. Due to popular demand, we are extending this offer.
The RateCapper mortgage is an excellent way for your home buying clients to enjoy the historically low prime rate of a variable mortgage, while ensuring what their maximum borrowing rate will be over a five year term.
As with other variable rate mortgages the interest rate charged fluctuates with changes in the RBC Prime Rate1. With a RateCapper mortgage your clients will be charged the lower of our Prime Rate or a predetermined capped rate.
The RateCapper mortgage gives homeowners the best of both worlds – helping them pay less interest when rates are low, while ensuring they will never pay more than a maximum or capped rate, no matter how high the prime interest rate may rise.
RateCapper Prime Rate2
2.75%
RateCapper Maximum Rate3
4.875%
