TORONTO - RBC Royal Bank announced today that it is changing its Residential Mortgage rate offers effective October 11, 2011:  http://www.rbc.com/newsroom/2011/1007-mortgage-rate.html

In addition to standard fixed and variable rate mortgage products, the Royal Bank of Canada (RBC) offers a variety of specialty mortgage products. These additional products consist of the RateCapper Mortgage, the RBC Homeline Plan, the EnergySaver Mortgage, a Cash Back Mortgage, and a Self-Employed Mortgage product, all outlined below.

The RateCapper Mortgage is a variable RBC mortgage rate with a maximum "capped" rate for a five-year term. This provides protection from rate increases if mortgage rates go up beyond that maximum "capped" rate, and if rates go down, your rate goes down just as it would with a variable RBC mortgage rate.

The RBC Homeline Plan allows you to consolidate existing debt to save on interest charges and enjoy the benefits of mortgages and a line of credit in one plan.

The Energy Saver Mortgage is a financing solution with a rebate to help you reduce your home energy costs and improve your home's energy efficiency. It essentially provides a $300 rebate on a home energy audit with the choice of a residential mortgage or the RBC Homeline Plan.

The RBC Cash Back Mortgage provides a cash back payment at the time your mortgage is advanced. The amount of money you receive is based on the size and term of your mortgage, up to 7% of its value. RBC's Self-Employed Mortgage is available for those who are self-employed and have difficulty obtaining competitive rates for buying, refinancing, renovating and more. With this product, financing is available for up to 90% of the value of your home. And finally, the Vacation Home Mortgage lets you finance up to 95% of the value of your vacation home.

RBC's online learning centre includes a range of features such as guides on buying and selling your home, renovating your home, maximising energy efficiency, and general mortgage advice, all aimed at self education and making informed decisions on your mortgage. As part of this information collection process, you should compare RBC's mortgage rates against other lenders and brokers to obtain the best mortgage interest rate.

Internet site reference: http://www.ratehub.ca/banks/rbc-royal-bank-mortgage-rates