23 August 2011

RBC increases variable mortgage rate

On Wednesday Canada’s largest mortgage lender, RBC, reduces its variable
rate discount by 0.20%.  For VRM holders it means that the bank’s
variable rate rises from 2.35% to 2.55%. And it’s quite possible that
other financial institutions may follow this tendency. This news turned
out to be a surprise for many borrowers, but there are certain reasons
for it…

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