RBC Royal Bank^® Fixed Rate Mortgage

You are on: Features and Benefits

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
• The amortization 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 90 days before the closing date of your home. If interest rates go up during that time, you'll still receive the lower rate.

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 of closed, open and convertible fixed rate mortgages from RBC, you can select the term that provides the level of security (and interest rate) that is right for you.

You are on: Payment Options

Select Your Payment Schedule

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.

• Choosing Your Payment Schedule

Choose Your Amortization Period

At RBC Royal Bank^®, you can select an amortization period between 5 and 35 years. This is the length of time it will take to pay off your mortgage.

• Choosing Your Amortization

Pay Down Your Mortgage Faster

You can also reduce the number of years it takes to pay off your mortgage and enjoy substantial savings by:

• Making Double-Up^® Payments
• Making Principal Prepayments
• Increasing Your Monthly Payments

Enjoy Other Flexible Payment Options

If you ever need to free up cash for another purpose, you can also skip a mortgage payment once every 12 months:

• Skip-A-Payment^®

You are on: Rates and Terms

Fixed Rate Mortgages

Below are current posted rates and special offers for our convertible, closed and open fixed rate mortgages:

Fixed Rate Closed Term Mortgage Rates⁽¹⁾:

Fixed Rate Closed Term Mortgage Rates

Term	Posted Rate	Special Offers(2)
4 Year	5.19%	4.14%(3)
5 Year	5.59%	4.29%(4)
7 Year	6.65%	5.20%(5)

View all rates

Learn More

• Down Payment Options
• Closed, Convertible and Open Mortgages
• Amortization

1. Interest rate is an annual rate and is compounded half-yearly, not in advance. Interest rates are subject to change without notice at any time.

Applicable to residential mortgages only and subject to Royal Bank of Canada lending criteria for residential properties.

2. Rates shown are Royal Bank of Canada's special discounted rates and are not its posted rates. To calculate a rate discount compare the rate noted above against the posted rate. Offer may be changed, withdrawn or extended at any time, without notice.

The annual percentage rate (APR) is based on a $100,000 mortgage for the applicable term assuming certain cost of borrowing charges (for example, appraisal fees). If there are no cost of borrowing charges, the APR and the interest rate will be the same.

3. APR 4.18%. Offer expires December 31, 2009.

4. APR 4.32%. Offer expires December 31, 2009.

5. APR 5.22%. Offer expires December 31, 2009.

For mortgages approved on or before December 31, 2009 funds must be advanced within 90 days of date of application in order to qualify for the Special Offer rate.