Mortgage Rates Increase
Posted June 2nd, 2009 in Mortgage Rates, Real Estate | 
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.
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