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How do you mean it is regulated this way? RBC lists a 25-year fixed right now - https://www.rbcroyalbank.com/mortgages/mortgage-rates.html#posted-rates https:/
by michael1999 4y ago
How do you mean it is regulated this way? RBC lists a 25-year fixed right now - https://www.rbcroyalbank.com/mortgages/mortgage-rates.html#posted-rates https://www.rbcroyalbank.com/mortgages/mortgage-rates.html#p....
It isn't competitive (9.75% vs 6.2% on a 5 year), but it's there.
- voisin 4y agoWoah, that’s strange. I just bought a house and the mortgage guy I was dealing with said anything more than 7 years is prohibited in Canada unless you go to an unregulated B-lender. Clearly I stand corrected!
- michael1999 4y agoI don’t know if they actually sell a 25, or just post a rate for some other reason. But I know I locked in for 10 my first contract.