|Provider||5 Year fixed||5 Year variable||3 Year fixed|
Best market rate
Compare the best rates
Answer a few quick questions and see the lowest rates you can qualify for.
Apply for your mortgage instantly and easily using our secure online application.
Connect with our mortgage advisors
Questions or comments? Book a call and one of our mortgage advisors will walk you through all the details
Are RBC rates lower than other banks?
How do I get a mortgage with RBC?
Can you negotiate a mortgage rate?
Check out the best current mortgage rates
Jamie David, Sr. Director of Marketing and Mortgages
RBC is Canada's biggest bank and has a strong offering of mortgage products. While RBC certainly offers rates that are competitive among the big banks, we strongly recommend you compare mortgage rates from multiple lenders before deciding on a provider.
To see if an RBC mortgage is right for you, read on to learn about their products.
RBC mortgage products
In addition to standard fixed and variable-rate mortgages, the Royal Bank of Canada (RBC) offers a variety of specialty mortgage products. These additional products consist of the RateCapper Mortgage, the RBC Homeline Plan, the EnergySaver Mortgage, a Cash Back Mortgage and a Self-Employed Mortgage product. These products are all outlined below.
This is a variable RBC mortgage rate with a maximum "capped" rate for a 5-year term. This provides protection from rate increases if mortgage rates go up beyond that maximum "capped" rate. If rates go down, your rate goes down just as it would with a variable RBC mortgage rate.
RBC Homeline Plan
The Homeline Plan is RBC's Home Equity Line of Credit (HELOC) offering. This plan allows you to consolidate existing debt to save on interest charges, then enjoy the benefit of both a mortgage and a line of credit in a single product.
Energy Saver Mortgage
The Energy Saver Mortgage is a financing solution with a rebate to help you reduce your home energy costs and improve your home's energy efficiency. It essentially provides a $300 rebate on a home energy audit with the choice of a residential mortgage or the RBC Homeline Plan.
RBC Cash Back Mortgage
RBC Cash Back Mortgage provides a cashback payment at the time your mortgage is advanced. The amount of money you receive is based on the size and term of your mortgage, up to 7% of its value.
RBC's Self-Employed Mortgage
If you're self-employed, getting approved for a traditional mortgage can be difficult. RBC's Self-Employed Mortgage is available for those who are self-employed and have difficulty obtaining competitive rates for buying, refinancing, renovating and more. With this product, financing is available for up to 90% of the value of your home.
Vacation Home Mortgage
This plan is specially designed for vacation homes, letting you finance up to 95% of the value of a property primarily used for holidays.
Accessing RBC mortgage rates
You can access RBC mortgage rates by going to the bank directly. While RBC doesn't work with brokers, it's also worth speaking to a mortgage broker when comparing mortgages. This is because brokers work with multiple lenders, have access to exclusive deals and can negotiate on your behalf. Even if you want to get a mortgage from one of the big banks such as RBC, using a mortgage broker can still get you a better deal.
RBC mortgage pre-approval
After gathering the necessary background information such as annual income, employment information, existing assets and liabilities and financial history, you can complete an online pre-approval application for your RBC mortgage rate in just a few minutes.
RBC mortgage application checklist
As part of your mortgage application process, RBC will ask you questions relating to what you owe and own. These questions might include questions about: your current asset and debt mix; the projected expenses relating to the property you wish to buy (including taxes, heating costs and condo fees); and whether you will be using the property to generate income. You'll need information on all of these before you start an application.
RBC will also require also be some basic information about you, your finances and the property you're buying, including:
- Information that describes the property you're buying
- Confirmation of your down payment
- Employment verification
- Information that describes your existing property
Other RBC products
RBC offers various RBC credit cards (including rewards cards and low-interest cards), RBC GICs (available in a variety of terms), as well as various types of insurance. One of the benefits of getting a mortgage with one of Canada's Big 6 Banks is that you can combine many financial services with a single institution, so a full range of financial services may be something you want to consider.
More on the Royal Bank of Canada
The Royal Bank of Canada is Canada's largest bank as measured by assets and market capitalization, and is among the largest banks in the world based on market capitalization. It is a diversified financial services company, offering personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. It employs tens of thousands of employees who serve close to 18 million personal, business, public sector, and institutional clients through offices in Canada, the US and dozens of other countries.
Jamie David, Director of Marketing and Head of Mortgages
Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and homebuying guides. read full bio
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.
How are CanWise Financial and Ratehub.ca connected?
We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.
We’re proud of our Ratehub.ca mortgage brokerage, which offers our users great rates, trusted advice and an award-winning team of mortgage experts. Read any of our 6,700 five-star Google and Facebook reviews and you’ll see what we mean.