Rates are going down... so we are expecting PRETTY ACTIVE spring market.

Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent.

Mortgage rate comparison website founder Robert McLister says RBC is the first of the Big Six banks to cut its advertised five-year fixed rate after a fall in five-year bond yields.

RBC is the largest mortgage lender in Canada, so whenever they move their mortgage rates, we can expect that the other four banks will follow suit.

When asked what prompted the rate drop, an RBC spokesperson said a number of factors have impacted the Toronto-based bank's cost of funds.

RBC says that includes the rate the bank pays in the wholesale market, increasing regulatory costs and market volatility.

They're also cutting now because of the time of the year. December and January are the "deadest" period for home buying, so RBC could be trying to drum up business while things are slow.

So, for those who are thinking to buy in 2019, this is a time when you should call your Realtor to start browsing the market.


Oleg Tsaryov,


TOP 1% of all REALTORS® in Greater Vancouver, President's Club Leader 2017 & 2018,


Top 10% of all REALTORS® in Greater Vancouver, 9 years Medallion Club *