RBC Royal Bank Changes Residential Mortgage Rates

TORONTO, Nov. 15, 2016 /CNW/ - RBC Royal Bank announced today that it is increasing its residential mortgage rate offers, and introducing new pricing for amortizations 25 years and under, effective November 17, 2016.

The changes include a number of rates and terms, including the three, four and five-year fixed rates. For a complete list of rates changes, please visit our website:

Special Offer Rates include*

Term	25 years amortization or less	Greater than 25 year amortization
Three-year fixed	2.69 per cent	2.79 per cent
Four-year fixed	2.79 per cent	2.89 per cent
Five-year fixed	2.94 per cent	3.04 per cent

"We consider a number of factors when making changes to mortgage rates, including our funding costs and market conditions. Based on current conditions, our rates reflect the right balance between our clients' expectations and our costs of funding mortgages," said Mary Ellen Brown, Senior Vice President, Home Equity Financing, RBC. "Today's mortgage market continues to be a low-rate environment and gives many people the opportunity to buy a home. We've introduced new options to help Canadians pay down their mortgage faster. We are committed to helping clients understand these changes and the full cost of home ownership, so we encourage them to call or meet with us should they have any questions."

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Special Offers may be changed, withdrawn or extended at any time, without notice.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

Media contact: Jill Anzarut, RBC Communications, [phone], [email protected]