RBC Royal Bank announced today that it is increasing its residential mortgage rates effective April 10, 2007.

The changes are as follows:
>Six-month open – 8.30% (up 0.05%);
>Six-month convertible – 6.50% (up 0.05%);
>One-year open – 8.75% (up 0.20%);
>One-year closed – 6.60% (up 0.20%);
>Two-year closed – 6.70% (up 0.20%);
>Three-year closed – 6.70% (up 0.20%);
>Four-year closed – 6.70% (up 0.20%);
>Five-year closed – 6.64% (up 0.20%);
>Seven-year closed – 6.95% (up 0.20%);
>Ten-year closed – 7.50% (up 0.20%).

Special offers rates are as folows:
Six-month convertible 5.44% (up 0.05%);
Four-year closed 5.69% (up 0.20%);
Five-year closed 5.58% (up 0.20%);
Seven-year closed 5.50% (up 0.20%);
Ten-year closed 6.05% (up 0.20%).