Change Language | Region*
American flag

*Products and services featured on our websites are only available to residents of the selected country.

Set your homepage

Home Personal BankingWealth Management Small BusinessCommercial Corporate & InstitutionalAbout BMO
<< Back to News Releases
BMO Bank of Montreal Decreases Mortgage Rates  

 

BMO Bank of Montreal today announced it is changing fixed residential mortgage rates effective January 11, 2003. The new rates are:

Fixed Rates: To: Change:
6 month open 5.95 % 0.00 %
6 month convertible 5.55 % 0.00 %
1 year open 5.95 % 0.00 %
1 year closed 4.90 % 0.00 %
2 year 5.60 % 0.00 %
3 year 6.00 % 0.00 %
4 year 5.20 % -0.25 %
5 year 6.45 % -0.25 %
7 year 7.35 % -0.20 %
10 year 7.90 % -0.30 %
18 year open 7.90 % 0.00 %

(The interest on fixed rate mortgages compounds semi-annually, not in advance.)

Variable rates are as follows:

Variable Rates: To: Change:
3 year open 4.500 % 0.00 %
6 year Below Prime 4.125 % 0.00 %
5 year protected 4.400 % 0.00 %

The cap on the five-year Protected Variable Rate Mortgage decreases from 6.70% to 6.45%.

-30-

Market Watch
As of
Last Change   
BMO TSX
BMO NYSE
TSX Comp
DJIA