(March 23 – 13:25 ET) – Royal Bank announced today that it is increasing its residential mortgage rates, effective March 24, 2000. The changes are as follows:

> Six-month open 8.20 per cent (up 0.20 per cent)
> Six-month convertible 7.75 per cent (up 0.20 per cent)
> One-year open 8.30 per cent (up 0.10 per cent)
> One-year closed 7.70 per cent (up 0.10 per cent)
> Two-year closed 7.95 per cent (no change)
> Three-year closed 8.15 per cent (no change)
> Four-year closed 8.30 per cent (no change)
> Five-year closed 8.35 per cent (no change)
> Seven-year closed 8.60 per cent (no change)
> 10-year closed 8.90 per cent (no change)
> 25-year closed 8.90 per cent (no change)
-IE Staff