Royal Bank of Canada
Nathan Denette/The Canadian Press
Royal Bank of Canada RY-T says the posted rate for five-year mortgages will be reduced by about one-tenth of a percentage point to 5.99 per cent, effective Friday.
That rate started the month at 6.25 per cent but was lowered by 15 basis points on May 11 along with a range of other rate cuts.
Prior to this month, Canadian mortgage rates had been on the rise.
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