RBC Royal Bank decreases residential mortgage rates

TORONTO, Aug. 16 /CNW/ - RBC Royal Bank announced today that it is decreasing its residential mortgage rates effective August 17, 2010.

The changes are as follows:

    
    Fixed Rate Mortgages

    Six-month convertible       4.55 per cent    (no change)
    One-year closed             3.30 per cent    (no change)
    Two-year closed             3.55 per cent    (decreased by 0.10 per cent)
    Three-year closed           4.10 per cent    (decreased by 0.10 per cent)
    Four-year closed            5.14 per cent    (decreased by 0.10 per cent)
    Five-year closed            5.49 per cent    (decreased by 0.10 per cent)
    Seven-year closed           6.45 per cent    (decreased by 0.10 per cent)
    Ten-year closed             6.60 per cent    (decreased by 0.10 per cent)

    Special Fixed Rate Offers*
    ----------------------------

    Four-year closed            3.99 per cent (decreased by 0.10 per cent)
    Five-year closed            4.09 per cent (decreased by 0.10 per cent)

    * 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    Special Offers may be changed, withdrawn or extended at any time, without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.
    

SOURCE RBC

For further information: For further information: Media contact: Gillian McArdle, (416) 974-5506


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