Robert McLister·Mortgage Rate Trends·April 13, 2010RBC Raises Fixed Rates 1/4% Bond yields keep rising and fixed rates keep climbing. Just after midnight, RBC Royal Bank announced it will push up fixed rates by another 1/4 percentage point, effective tomorrow. This change applies to all fixed terms. The new 5-year posted rate will be 6.10%. After April 18, this will also probably be the new qualification rate for variable and 1- to 4-year fixed mortgages . The industry’s benchmark 5-year fixed “special offer” rate will now be 4.70%. RBC says: “We have held off from handing [rate increases] on to consumers but now it has become necessary. The rise is tied to our long-term funding costs which have gone up considerably.” No other banks have followed RBC yet, but they likely will soon. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.