RBC, Scotia raise mortgage rates

RBC Royal Bank is increasing its residential mortgage rate offers effective June 24, 2013.

The changes are as follows:

Special Offer Rates:

• Four-year closed: 3.29% (increased by 0.20%)
• Five-year closed: 3.49% (increased by 0.20%)
• Seven-year closed: 3.79% (increased by 0.20%)

Fixed Rate Posted Rates:

• Three-year closed: 3.75% (increased by 0.10%)

Read:

• Canadians predict rising mortgage rates
• Say goodbye to mortgage wars

Scotiabank also announced rate changes to its special discounted rates, effective June 22, 2013:

• 2 year closed fixed term: 2.79% (increase of 0.10%)
• 4 year closed fixed term: 3.09% (increase of 0.10%)
• 7 year closed fixed term: 3.59% (increase of 0.10%)
• 10 year closed fixed term: 3.79% (increase of 0.10%)

Staff

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