RBC Mortgage Rate Hike To Land Friday

Posted: Updated:
RBC
Royal Bank of Canada (RBC) signage is displayed at the Royal Bank Plaza in Toronto, Ontario, Canada, on Thursday, Dec. 18, 2014. | Bloomberg via Getty Images
Print

TORONTO — One of Canada's biggest lenders will be raising rates on several of its mortgages starting Friday.

Royal Bank of Canada says its special offer five-year fixed mortgage goes up one-tenth of a point to 3.04 per cent.

It noted that the changes don't apply to its posted mortgage rates, which are typically higher than special offer rates.

Read more: Canadian Mortgage Rates On The Rise, Threatening Housing Market: Experts

Several other special offer mortgage rates from RBC will also rise by 0.10 per cent on Friday but the amount of annual interest charged will depend on whether the term is two, three or four years.

Royal (TSX:RY) is also raising the rate for a variable five-year mortgage by 0.15 per cent, starting Jan. 8.

Close
Most Amazing Future Condo Projects
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Also on HuffPost:

Suggest a correction

Around the Web

Royal Bank of Canada raises rates on new mortgages starting Jan. 8

RBC to hike several mortgage rates starting Friday

Will mortgage rates dip to record lows in 2016?

What Canadians need to know about negative interest rates