Mortgage Rates Increase


Leader of the Pack

The Royal Bank of Canada once more, leads the pack. Taking advantage, they have raised mortgage rates.

RBC’s 5, 7, and 10 year rate has increased by .20 percent. Currently the RBC prime remains at 2.25 per cent.

Five-year closed 5.45 per cent (up by 0.20 per cent)
Seven-year closed 6.80 per cent (up by 0.20 per cent)
Ten-year closed 6.95 per cent (up by 0.20 per cent)

Good Times Gone

Surely the other banks will follow suit. What is worrisome is that this may be the first small sign that all the other rates which have given a substantial boost to first time buyers may be coming to an end. Watch for market changes in the next few weeks.

*Disclaimer: Information while believed to be accurate is not guaranteed.

**Logo is a Registered trademark of the Royal Bank of Canada

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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