RBC Royal Bank increases residential mortgage rates



    TORONTO, June 12 /CNW/ - RBC Royal Bank announced today that it is
increasing its residential mortgage rates effective June 13, 2008.

    
    The changes are as follows:

    Six-month open             8.40 per cent    (up by 0.39 per cent)
    Six-month convertible      6.60 per cent    (up by 0.39 per cent)
    One-year open              8.80 per cent    (up by 0.50 per cent)
    One-year closed            6.65 per cent    (up by 0.50 per cent)
    Two-year closed            6.65 per cent    (up by 0.50 per cent)
    Three-year closed          6.65 per cent    (up by 0.50 per cent)
    Four-year closed           6.99 per cent    (up by 0.40 per cent)
    Five-year closed           7.15 per cent    (up by 0.50 per cent)
    Seven-year closed          7.60 per cent    (up by 0.25 per cent)
    Ten-year closed            7.75 per cent    (up by 0.30 per cent)
    Twenty-five year closed    8.65 per cent    (up by 0.10 per cent)

    Special Offers(*)
    -----------------

    6-month convertible        5.54 per cent       (up 0.39 per cent)
    Four year closed           5.93 per cent       (up 0.40 per cent)
    Five year closed           6.09 per cent       (up 0.50 per cent)
    Seven year closed          6.15 per cent       (up 0.25 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    Special Offers may be changed, withdrawn or extended at any time, without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.





For further information:

For further information: Media contact: Jackie Braden, (416) 974-2124


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