RBC mortgage rates (2026): what to know

RBC mortgage rates have a posted rate, which RBC Royal Bank publishes and uses in its penalty formula, and discounted rates that most borrowers actually get. Your rate will depend on the term, your down payment and what you negotiate with an RBC mortgage specialist. See RBC's current posted rates on RBC's site. This guide covers how RBC's mortgages work, with Bank of Canada averages for context, not RBC's prices.

Dibz isn't affiliated with or endorsed by RBC. Trademarks belong to their owners. Figures shown are Bank of Canada averages, not offers; talk to a licensed mortgage professional before you decide.

RBC quick facts

Lump sums: up to 10% of the original principal once in every 12-month period on a closed mortgage (RBC).
Double-Up: on any payment date, prepay between $100 and the principal-and-interest portion of your regular payment, in effect up to doubling that payment.
Fixed-rate penalty: the greater of three months' interest or an IRD that uses RBC's posted rate less your original discount.
Readvanceable option: the RBC Homeline Plan, up to 80% of your home's value.

RBC mortgage products

RBC offers fixed and variable mortgages, in open and closed versions, plus the RBC Homeline Plan. The Homeline Plan combines mortgage segments with a variable-rate Royal Credit Line. You can borrow up to 80% of your home's value in total, with the credit line capped at 65% of the home's appraised value at application. As you pay the mortgage down, the available credit line grows, up to that 65% cap.

Open mortgages let you make principal prepayments of $500 or more as often as you like.

Prepayments and penalties

RBC's prepayment privileges on a closed mortgage come in two pieces. The annual lump sum is up to 10% of the original principal, once every 12 months. The Double-Up option works on any payment date: you can add anything from $100 up to the principal-and-interest part of your regular monthly payment, and it goes straight to principal.

When you break a closed RBC mortgage, RBC's prepayment charge explainer describes:

Variable: three months' interest on the outstanding amount, at your current rate.
Fixed: the greater of three months' interest or an IRD. RBC's example compares your rate with the posted rate for a new mortgage with a term closest to your remaining term, minus the discount you received.

So two things drive a fixed-rate penalty at RBC: how far posted rates have fallen since you signed, and how big your discount was. RBC notes that its own calculation is more detailed than the simplified example, and it has a prepayment charge calculator.

If your mortgage moved to RBC in a 2024 client migration, RBC has a separate page on how charges work for those mortgages, which differ from standard RBC terms.

Porting to a new home

RBC's porting page describes taking your mortgage, with its current rate and terms, from your current home to your new one when you buy and sell at the same time. If you need a bigger mortgage, your existing rate can be blended with the current rate for the extra funds. Homeline Plan clients can open additional segments to cover the extra amount.

How to apply

You can get pre-approved online, connect with an RBC mortgage specialist, or apply in a branch. Homeline Plan funds can be accessed through online banking, the mobile app, ATMs, branches or cheques.

Posted vs discounted rates at RBC

A posted rate is RBC's published list price for each term. Most borrowers receive a discount from it. That discount is recorded and comes back into play if you break the mortgage, because RBC's IRD comparison rate is the posted rate minus that same discount.

The posted rate also matters for qualifying, in the sense that the stress test uses the higher of 5.25% or your contract rate plus two points (FCAC). A lower negotiated rate lowers the qualifying rate.

How RBC's posted rate compares with the chartered-bank benchmark

The Bank of Canada's posted 5-year rate is the conventional mortgage rate offered by chartered banks in Canada, which include RBC. RBC's own posted rate usually sits at or close to that benchmark, but check RBC's page for today's number. The benchmark has a long record, which shows how rarely posted rates change and how far they can swing:

Twenty years of chartered banks' posted 5-year rateOct 2006 to Oct 2026, monthly. Low 4.64% (Apr 2015), high 7.54% (Dec 2007).

Chartered banks' conventional (posted) 5-year mortgage rate. A typical chartered-bank posted rate, not RBC's own rate or an offer. Most borrowers pay less than posted.

Source: Bank of Canada (free at bankofcanada.ca)

Show the numbers

Month	Posted 5-year fixed
Dec 2006	6.45%
Dec 2007	7.54%
Dec 2008	6.75%
Dec 2009	5.49%
Dec 2010	5.19%
Dec 2011	5.29%
Dec 2012	5.24%
Dec 2013	5.34%
Dec 2014	4.79%
Dec 2015	4.64%
Dec 2016	4.64%
Dec 2017	4.99%
Dec 2018	5.34%
Dec 2019	5.19%
Dec 2020	4.79%
Dec 2021	4.79%
Dec 2022	6.49%
Dec 2023	7.04%
Dec 2024	6.49%
Dec 2025	6.09%
Oct 2026	6.19%

The benchmark ended 2007 at 7.54%, sat at 4.64% through 2015 and 2016, ended 2023 at 7.04% and has been 6.09% since May 2025. If you signed when posted rates were high and they fall during your term, an IRD penalty can grow.

Negotiating your RBC renewal

Pay down at maturity. RBC allows principal prepayments of any amount at renewal time.
Know your discount. Ask what discount from posted you're being offered; it affects both your rate and any future IRD.
Compare with averages. The Bank of Canada figures in the box above show what borrowers have recently paid across lenders.
Think about the next move. If you might sell within the term, ask how porting would work for your mortgage before you sign.
Switching is possible. Since November 2024, a straight switch of an uninsured mortgage to another federally regulated lender generally doesn't require a new stress test.

Try our mortgage calculator to see your payment at different renewal rates.

Read 5-year fixed mortgage rates, HELOC rates for readvanceable plans like the Homeline Plan, and the Scotiabank and BMO guides.

FAQ

How much can I prepay on an RBC mortgage?

On a closed RBC mortgage, up to 10% of the original principal once in every 12-month period, plus Double-Up payments of $100 up to your regular principal-and-interest payment on any payment date.

How does RBC calculate the penalty for breaking a fixed mortgage?

It is the greater of three months' interest or an interest rate differential. RBC compares your rate with its posted rate for the term closest to your remaining term, minus the discount you originally received.

What is the RBC Homeline Plan?

A plan that combines mortgage segments with a Royal Credit Line, up to 80% of your home's value. The credit line can reach 65% of the home's value and grows as you pay down the mortgage.

Can I port my RBC mortgage?

RBC describes porting your mortgage, with its current rate and terms, to a new home when you sell and buy at the same time. If you need more money, the existing rate can be blended with the current rate on the extra.

Are the rates on this page RBC's rates?

No. They are Bank of Canada averages across lenders. For RBC's current rates, check RBC's mortgage rates page.

Sources

RBC: Making a mortgage prepayment
RBC: Pay down your mortgage
RBC: How prepayment charges are calculated
RBC: Prepayment charges for clients who migrated in 2024
RBC: Porting your mortgage
RBC: Homeline Plan
RBC: Mortgage rates
FCAC: Preparing to get a mortgage
Bank of Canada: posted 5-year mortgage rate series (free at bankofcanada.ca)

This article is general information, not financial advice. Rates shown are Bank of Canada averages, not offers. Talk to a licensed mortgage professional before choosing a mortgage.