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Royal Bank boosting its residential mortgage rates again on Tuesday
TORONTO – Royal Bank of Canada (TSX:RY) is once again boosting some of its home mortgage rates effective Tuesday.
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 per cent respectively.
Royal increased some of its mortgage rates earlier this month following a plunge in bond prices in May.
Scotiabank (TSX:BNS) and TD Bank (TSX:TD) have also recently increased their special discounted rates.
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