RBC Royal Bank changes residential mortgage rates

TORONTO , Oct. 9 /CNW/ - RBC Royal Bank announced today that it is increasing its residential mortgage rates effective October 10, 2009 .

    
    The changes are as follows:

    Fixed Rate Mortgages
    Six-month open              6.45 per cent     (increase by 0.10 per cent)
    Six-month convertible       4.65 per cent     (increase by 0.10 per cent)
    One-year open               6.45 per cent     (increase by 0.10 per cent)
    One-year closed             3.80 per cent     (increase by 0.10 per cent)
    Two-year closed             3.95 per cent     (increase by 0.10 per cent)
    Three-year closed           4.45 per cent     (increase by 0.10 per cent)
    Four-year closed            5.29 per cent     (increase by 0.35 per cent)
    Five-year closed            5.84 per cent     (increase by 0.35 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)

    Variable Rate Mortgages
    Variable Closed             RBC Prime + 0.00% (no change)

    Special Fixed Rate Offers*
    ----------------------------

    Six-month convertible       4.15 per cent     (increase by 0.10 per cent)
    Four-year closed            4.24 per cent     (increase by 0.35 per cent)
    Five-year closed            4.54 per cent     (increase by 0.35 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        Special Offers may be changed, withdrawn or extended at any time,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.
    

For further information: Media contact: Stephanie Lu, [phone]