RBC’s prime rate is the basis for its variable-rate lending products, like mortgages, credit cards and lines of credit. When the Bank of Canada adjusts its overnight rate, RBC’s prime rate ...

are advertised discounts off posted rates. Switch your mortgage to RBC and get up to $5,700 in value (up to $3,500 cash, a rebate in your switch fees of up to $1,100 and 55,000 Avion points).

If you want the very best deal on a big bank mortgage, get ready to sign up for more products, whether you like them or not.

Royal Bank of Canada chief executive Dave McKay said 60 per cent of the bank’s customers will renew at lower rates in 2025.