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

Reuters
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 (Toronto:RY.TO - News) 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 https://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)