Fixed Rate Mortgage
Great rates and peace-of mind. Our fixed rate mortgage offers you the security of locking in your interest rate for the term of your mortgage.
Whether you’re buying your first home, moving to a new home, or renewing an existing mortgage, choosing a fixed rate mortgage means you won’t have to worry about future interest rate fluctuations during your mortgage term.
Get locked-in security with a fixed rate mortgage
A fixed rate mortgage offers a specific interest rate that is fixed or “locked-in” for the term of the mortgage. That means you’ll know exactly what to expect, including:
- The interest rate of your mortgage
- The amount of your regular mortgage payments
- The portion of your payment that goes toward principal and interest
- TheВ amortizationВ of your mortgage (how long it will take to pay it off)
Enjoy a rate guarantee
If you are arranging a new mortgage, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you’ll still receive the lower rate вЂ” guaranteed.
And when it’s time to renew, RBC will guarantee your mortgage interest rate for 30 days prior to your renewal date.
Choose what works best for you
With your choice ofВ closed, open and convertibleВ fixed rate mortgages from RBC, you can select the term that provides the level of security (and interest rate) that is right for you.
When you first set up your mortgage, you can choose from several payment options, including monthly, semi-monthly, bi-weekly , weekly, accelerated bi-weekly and accelerated weekly payments.
At RBC Royal Bank, you can select an amortization period between 5 and 30 years. This is the length of time it will take to pay off your mortgage if the interest rate does not change.
You can also reduce the number of years it takes to pay off your mortgage and enjoy substantial savings by:
If you ever need to free up cash for another purpose, you can also skip a mortgage payment once every 12 months:
HomeProtector Mortgage Insurance
It allows you to not only safeguard yourself and your family’s lifestyle, but also your assets and net worth.
Special offer rates and terms
Below are current special offers 1 for select fixed rate closed term mortgages: