On the heels of announcements from two other banks, RBC Royal Bank said Tuesday it was increasing some of its fixed rate mortgages by as much as 0.25 percentage points.Canada’s biggest bank was following in the footsteps of CIBC and TD Canada Trust, who announced their own interest rate increases on Monday.
RBC’s five-year fixed rate mortgage increased by 0.25 percentage points to 5.44 per cent. The bank increased its one-year fixed rate mortgage 0.15 percentage points to 3.5 per cent.
The new rates come into effect on Wednesday.
Source: TheStar.com
Published On Tue Feb 8 2011
Allison Cross, Business Reporter
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