08/20/2012 01:20 EDT | Updated 10/20/2012 05:12 EDT

RBC raising rates on two fix-term mortgages by one-fifth of a point

TORONTO - RBC Royal Bank (TSX:RY) is raising two of its mortgage rates by one-fifth of a point each, starting Tuesday.

RBC's posted rate for a three-year, fixed-rate mortgage will go up 0.2 percentage point to 4.05 per cent.

Meanwhile, an RBC special-offer rate for five-year closed mortgages rises to 3.69 per cent.

According to data compiled by Bank of Canada, most major commercial banks have been offering three-year mortgages at 3.95 per cent since late January.

Canada's central bank also says five-year conventional mortgages have been at 5.24 per cent since May, when they were reduced from 5.34 per cent.

There are a number of mortgage rates beyond what banks list, often available through negotiation or from alternative lenders.