(May 17 16:15 ET) – Royal Bank announced today that it is increasing its residential mortgage rates, effective May 18, 2000. The changes are as follows:

• six-month open, 8.80% (up 0.40%)
• six-month convertible, 8.35% (up 0.40%)
• one-year open, ;8.90% (up 0.40%)
• one-year closed, 8.30% (up 0.40%)
• two-year closed, 8.45% (up 0.30%)
• three-year closed, 8.55% (up 0.20%)
• four-year closed, 8.70% (up 0.20%)
• five-year closed, 8.75% (up 0.20%)
• seven-year closed, 8.95% (up 0.20%)
• 10-year closed, 9.15% (up 0.15%)
• 25-year closed, 9.15% (up 0.15%)
-IE Staff