RBC Royal Bank raised two of its mortgage rates by one-fifth of a point each on Tuesday, and it’s likely
other lenders will soon follow suit, an economist told The Sun.

Helmut Pastrick, chief economist at Central 1 Credit Union, said bond yields have gone up by about 0.3
per cent in the past four weeks, and that is probably driving the increase.

“Sentiment has improved with respect to Europe and the economic outlook,” Pastrick said. “The
economic news was quite negative for a period of weeks and now it is somewhat less negative.”

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