(April 6 – 14:10 ET) – Royal Bank is increasing its residential mortgage rates. The changes are as follows:

> six-month open 7.45% no change
> six-month convertible 7.00% no change
> one-year open 7.50% no change
> one-year closed 6.70% no change
> two-year closed 6.95% up 0.10%
> three-year closed 7.10% up 0.15%
> four-year closed 7.40% up 0.25%
> five-year closed 7.50% up 0.25%
> seven-year closed 7.95% up 0.25%
> 10-year closed 8.30% up 0.25%
> 25-year closed 8.55% up 0.15%

The changes will be effective April 9, 2001.
-IE Staff