TORONTO, Oct. 21 /CNW/ - RBC Royal Bank today announced that it is decreasing the rate on its RBC Homeline Plan line of credit effective Thursday, October 22, 2009 as follows:
RBC Homeline Plan line of credit
2.75 per cent RBC Prime + .50% (decrease by 0.40 per cent)
"Now, more than ever, Canadians can use a break when it comes to financing what is often their largest purchase - their home," said Marcia Moffat, RBC head Home Equity. "That's why we are happy to be able to offer a reduced rate on the RBC Homeline Plan line of credit, giving Canadians access to the best priced credit line in the market today."
The RBC Homeline Plan provides homeowners the flexibility to split their home financing into various mortgage segments to include both fixed and variable rate mortgages, coupled with one or more lines of credit. Homeowners can use the plan to help diversify their interest rates and lower their overall borrowing costs. http://services.rbc.com/advice/video.html?vidID=EN0007AC
"With the economic changes over the past year, this is a perfect time for Canadians to reassess their home financing arrangements and get advice that can help them save money," added Moffat.
RBC Royal Bank's residential mortgage rates remain unchanged.
SOURCE RBC Royal Bank
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