January 17, 2019 / 1:13 AM / a month ago

RBC lowers five-year fixed mortgage rate: The Globe and Mail

Security cameras point towards pedestrians outside the Royal Bank of Canada (RBC) headquarters in Toronto, Ontario, Canada March 16, 2017. Picture taken March 16, 2017. REUTERS/Chris Helgren

(Reuters) - Royal Bank of Canada (RY.TO) has become the first major Canadian bank to cut its five-year fixed mortgage rate, The Globe and Mail reported on Wednesday.

The Canadian lender cut its five-year fixed mortgage rate to 3.74 percent from 3.89 percent, the report tgam.ca/2CunAhQ said.

RBC did not immediately respond to a request for comment outside regular business hours.

Reporting by Kanishka Singh in Bengaluru; Editing by Sandra Maler

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