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RBC to hike mortgage rates on Tuesday


RBC to hike mortgage rates on Tuesday

Toronto - Royal bank of Canada is once again boosting some of its home mortgage rates effective Tuesdays. The increases will range from one-tenth to three-tenths of a point, depending on the type of mortgage.

Royal Bank says its special discounted four-, five-, seven-, and ten-year rates are going up to 3.39, 3.69, 3.99 and 4.29% respectively.

Royal increased some of its mortgage rates earlier this month following a plunge in bond prices in May.

Scotiabank and TD Bank have also recently increased their special discounted rates.

The Canadian Press

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