RBC Royal Bank decreases residential mortgage rates

TORONTO, Dec. 8 /CNW/ - RBC Royal Bank announced today that it is decreasing its residential mortgage rates effective December 9, 2009.

The changes are as follows:

    Fixed Rate Mortgages

    One-year closed       3.40 per cent     (decreased by 0.20 per cent)
    Two-year closed       3.75 per cent     (no change)
    Three-year closed     4.25 per cent     (no change)
    Four-year closed      5.14 per cent     (decreased by 0.05 per cent)
    Five-year closed      5.49 per cent     (decreased by 0.10 per cent)
    Seven-year closed     6.65 per cent     (no change)
    Ten-year closed       6.80 per cent     (no change)

    Special Fixed Rate Offers*
    ----------------------------
    Four-year closed      4.09 per cent     (decreased by 0.05 per cent)
    Five-year closed      4.19 per cent     (decreased by 0.10 per cent)
    Seven-year closed     5.20 per cent     (no change)
    Ten-year closed       5.35 per cent     (no change)

    Variable Rate Mortgages

    Variable Closed       RBC Prime + 0.00% (no change)


    * The rates indicated are special discounted rates and are not the
        posted rates of Royal Bank of Canada. To calculate a rate discount
        compare the Special Offer rate against the posted rate for the
        applicable term.

        Special Offers may be changed, withdrawn or extended at any time,
        without notice. Not available in combination with any other rate
        discounts, offers or promotions.

For further information: Media contact: Stephanie Lu, [phone]