Royal Bank of Canada (RBC) followed the move by BMO and announced it is also increasing some of its mortgage rates effective, today, June 2, 2009.
The new, updated mortgage rates are as follows:
|
Rate term |
Rate |
Change |
|---|---|---|
|
6 month open |
6.55% |
0.00% |
|
6 month convertible |
4.75% |
0.00% |
|
1 year open |
6.55% |
0.00% |
|
1 year closed |
3.90% |
0.00% |
|
2 year closed |
4.05% |
0.00% |
|
3 year closed |
4.15% |
0.00% |
|
4 year closed |
4.84% |
0.00% |
|
5 year closed |
5.45% |
0.20% |
|
7 year closed |
6.80% |
0.20% |
|
10 year closed |
6.95% |
0.20% |
|
25 year closed |
closed |
8.05% |
|
Special Offers(*) |
||
|
6 month convertible |
4.25% |
0.00% |
|
1 year closed |
3.40% |
0.00% |
|
4 year closed |
3.79% |
0.00% |
|
5 year closed |
4.15% |
0.20% |
|
7 year closed |
5.35% |
0.20% |
Special Offers may be changed, withdrawn or extended at any time,
without notice. Not available in combination with any other rate
discounts, offers or promotions.
The other big banks are sure to follow now, but keep in mind that it’s not all bad news, as we are now only 0.20% higher than the lowest fixed costs in history, so it is still a great time to lock in a great fixed rate.
Go compare mortgage rates now to see how RBC’s rates stack up against the rest of the market.
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