RBC Signals That VRMs Too Costly
August 25, 2011 by Adil Virani
Filed under Latest News, Latest Rates, Mortgage FAQ, Recent News
RBC, the nation’s biggest mortgage lender, has cut its variable rate discount by 0.20 percentage points. The change is effective tomorrow. That lifts its advertised variable rate from 2.35% (prime – 0.65%) to 2.55% (prime – 0.45%). Given that lenders travel in packs, it’s likely that some other banks and non-banks will follow suit and reduce their […]
