Norm Betts/Bloomberg files Royal Bank is raising two of its mortgage rates by one-fifth of a point each, starting Tuesday.
TORONTO ? RBC Royal Bank is raising two of its mortgage rates by one-fifth of a point each, starting Tuesday.
RBC?s posted rate for a three-year, fixed-rate mortgage will go up 0.2 percentage point to 4.05%.
Meanwhile, an RBC special-offer rate for five-year closed mortgages rises to 3.69%.
According to data compiled by Bank of Canada, most major commercial banks have been offering three-year mortgages at 3.95% since late January.
Canada?s central bank also says five-year conventional mortgages have been at 5.24% since May, when they were reduced from 5.34%.
There are a number of mortgage rates beyond what banks list, often available through negotiation or from alternative lenders.
The Canadian Press
Source: http://business.financialpost.com/2012/08/20/rbc-raises-mortgage-rates-2/
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