RBC Royal Bank increases residential mortgage rates

TORONTO, June 1 /CNW/ - RBC Royal Bank announced today that it is increasing its residential mortgage rates effective June 2, 2009.

    
    The changes are as follows:

    Six-month open               6.55 per cent    (no change)
    Six-month convertible        4.75 per cent    (no change)
    One-year open                6.55 per cent    (no change)
    One-year closed              3.90 per cent    (no change)
    Two-year closed              4.05 per cent    (no change)
    Three-year closed            4.15 per cent    (no change)
    Four-year closed             4.84 per cent    (no change)
    Five-year closed             5.45 per cent    (increase by 0.20 per cent)
    Seven-year closed            6.80 per cent    (increase by 0.20 per cent)
    Ten-year closed              6.95 per cent    (increase by 0.20 per cent)
    Twenty-five year closed      8.05 per cent    (no change)

    Special Offers*
    -----------------
    Six-month convertible        4.25 per cent    (no change)
    One-year closed              3.40 per cent    (no change)
    Four-year closed             3.79 per cent    (no change)
    Five-year closed             4.15 per cent    (increase by 0.20 per cent)
    Seven-year closed            5.35 per cent    (increase by 0.20 per cent)


    *  The rates indicated are special discounted rates and are not the
         posted rates of Royal Bank of Canada. To calculate a rate discount
         compare the Special Offer rate against the posted rate for the
         applicable term.

         Special Offers may be changed, withdrawn or extended at any time,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.
    

Contacts

Media contact: Stephanie Lu
(416) 974-5506