Vancouver Realty Online

According to the Globe and Mail, RBC has hiked fix-term mortgage rates an additional .25 points; the second rate increase in as many weeks…

RBC hikes mortgage rates again – Globe and Mail

The move, which will result in a 0.25 percentage point increase in the cost of a number of fixed-rate mortgage products that the bank offers, is likely to spark another round of rate hikes among the country’s mortgage lenders.

RBC kicked off one series of hikes a little more than two weeks ago, and most experts said that was the start of a steady rise in mortgage rates.

At that time the cost of a five-year closed rate mortgage from RBC and many of its competitors rose by 0.60 percentage points to 5.85 per cent.

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