well that didn’t last long…….

RBC raises mortgage rates, signals end to price war

Royal Bank of Canada, the country’s largest mortgage lender, is increasing its rates.

The move is a sign that the mortgage price war could be drawing to a close as banks seek to reinflate their profit margins.

RBC announced Monday that its special rate on four-year fixed-rate mortgages will be increasing by half a percentage point to 3.49 per cent.


..courtesy of the Globe and Mail.

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