Fixed mortgage rates rising: 2nd increase in April

Royal Bank, Canada's biggest chartered bank, is raising fixed mortgage rates by 0.15 of a percentage point, effective Tuesday.

TD Canada Trust will also raise rates by between 0.15 and 0.25 percentage points on Tuesday.
The increase is the second in April for the banks and the third in less than 30 days.
Flexible rates are not affected by the increase, a Royal spokeswoman said.
The increase leaves both banks' benchmark five-year fixed rate at 6.25 per cent, up one percentage point over a month. It went up 0.25 percentage points on April 14 and 0.6 points at the end of March.
The Royal's increase matches the rise in the bank's long-term funding costs and bond yields, the spokeswoman said.
The Bank of Canada warned April 20 that the period of very low interest rates was coming to an end. Analysts expect the central bank's key rate to go up in June.
RBC said eight mortgage rates, from six-month convertible to 10-year closed, will go up, as well as the charges on two special fixed rate offers.
The one-year closed rate will be 3.8 per cent and the 10-year closed rate moves up to 7.2 per cent.
Other lenders are widely expected to raise their rates, too.
CBC News: Monday, April 26, 2010