| BMO
Bank of Montreal Lowers Mortgage Rates
BMO’s highly-competitive variable rates remain unchanged,
including five-year closed at 2.25 per cent
TORONTO, October 23,
2009 – BMO
Bank of Montreal announced today it is decreasing its residential mortgage
rates, effective October 24, 2009. The new rates
are:
|
Fixed Rates:
|
To:
|
Change:
|
|
6 month fixed convertible
|
4.65%
|
0.00%
|
|
6 month fixed open
|
6.45%
|
0.00%
|
|
1 year fixed open
|
6.80%
|
0.00%
|
|
1 year fixed closed
|
3.70%
|
0.00%
|
|
2 year fixed closed
|
3.95%
|
0.00%
|
|
3 year fixed closed
|
4.45%
|
0.00%
|
|
4 year fixed closed
|
5.29%
|
0.00%
|
|
5 year fixed closed
|
5.78%
|
-0.06%
|
|
6 year fixed closed
|
5.78%
|
-0.06%
|
|
7 year fixed closed
|
6.80%
|
0.00%
|
|
10 year fixed closed
|
6.95%
|
0.00%
|
|
18 year fixed open
|
8.95%
|
0.00%
|
| Variable
rates: |
To: |
Change: |
| 5
year closed |
2.25% |
0.00% |
| 3
year open |
3.05% |
0.00% |
(The interest on fixed-rate mortgages compounds semi-annually, not in advance.)
Special Offers*
|
To:
|
Change:
|
5 year(fixed/closed)
|
4.48%
|
-0.06%
|
*This special discounted rate is not the posted rate of BMO Bank of
Montreal. Rate is subject to change without notice. Offer may be withdrawn or extended without notice. Mortgage
funds must be advanced within 90 days of the application.
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For
news media inquiries, please contact:
Toronto
(416) 867-3996
|