RBC's prime rate is 4.45%, influencing variable-rate mortgages, credit cards, and lines of credit. Posted mortgage rates are highest, while special rates are discounted offers. Fixed rates remain stable for 1-10 years; variable rates fluctuate but allow penalty-free switching to fixed. Open mortgages permit full prepayment anytime; closed mortgages have prepayment limits. Better rates require good credit (660+), larger down payments, and low debt. Negotiation is encouraged. Pre-qualification and pre-approval are available online.