Royal Bank Hikes Mortage Rates

The Royal Bank has raised some of it’s mortgage rates. Their most important increase is for those who wish to take 25 years to pay. That rate has risen to 2.79 for three years, 2.89 for four years, and 3.04 for five years meaning that monthly payments of $2,274.85 would now be $2,376.51 representing $10,0000 more over the period of time.