†Interest rate is compounded monthly, not in advance. This rate is based on the Royal Bank of Canada prime rate of 4.75% minus a discount of 0.35%. Rates change as the prime rate changes. This rate may change at any time without notice. Royal Bank of Canada prime rate is an annual variable rate of interest announced by it time to time as its prime rate.
The annual percentage rate (APR) is based on a $100,000 mortgage for the applicable term assuming certain cost of borrowing charges (for example, appraisal fees). If there are no cost of borrowing charges, the APR and the interest rate will be the same.
1. APR 4.44%. Offer expires July 31, 2008.
Applicable to residential mortgages only and subject to Royal Bank of Canada lending criteria for residential properties.
