• RBC logoRBC announced today that effective tomorrow, Thursday October 22, 2009, their Homeline Plan line of credit rate will drop to Prime plus 0.50%. This is a drop from Prime plus 0.90%.

    “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.”

    I would expect other banks to follow this lead shortly.

    RBC Press Release

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