Royal Bank of Canada Mortgage Rates 2026
Royal Bank of Canada (RBC) is Canada's largest bank by assets. RBC has a strong digital mortgage platform and a dedicated RBC Newcomer Advantage program for recent immigrants. RBC is known for competitive insured mortgage rates and strong customer service scores among the Big 5 banks.
Current RBC Mortgage Rates
Rates are indicative and change frequently. Contact RBC or a broker for a current rate quote with your specific details.
Fixed Rate Mortgages
Variable Rate Mortgages
Pros & Cons
Pros
- RBC Newcomer Advantage — dedicated program for new Canadians
- Competitive insured mortgage rates
- Strong digital platform and app-based mortgage tracking
- RBC HomeProtector available for mortgage insurance
- Solid mobile banking and pre-approval tools
Cons
- —Prepayment privileges capped at 10% (lower than some competitors)
- —IRD penalties for fixed-rate breakage can be complex
- —Better rates often available through brokers
RBC Mortgage FAQs
Is RBC good for newcomers to Canada?
Yes. RBC has a dedicated Newcomer Advantage program that helps recent immigrants qualify for mortgages with alternative credit documentation, including international credit history and employment letters.
What prepayment options does RBC offer?
RBC allows up to 10% of the original principal as a lump-sum payment annually, and double-up payments on any scheduled payment date.
Can I break my RBC mortgage early?
Yes, but fixed-rate mortgages incur the greater of 3 months' interest or the IRD. Variable-rate mortgages charge 3 months' interest. Contact RBC to get an estimate of your specific penalty.