Daily Archives: August 23, 2011

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 not unlikely that some other banks […]

RBC Signals That VRMs Too Costly