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BMO Bank of Montreal Changes Mortgage Rates  

BMO Bank of Montreal today announced it is changing its variable mortgage rates effective October 19, 2005.

The new rates are:

Variable Rates:

To:

Change:

3 year open

4.750%

0.25%

6 year Below Prime

4.375%

0.25%

5 year Protected

4.650%

0.25%

The cap on the five-year protected variable rate mortgage is 5.44%

Fixed mortgage rates are as follows:

Fixed Rates:

To:

Change:

6 month open

6.99%

0.00%

6 month convertible

4.70%

0.00%

1 year open

6.85%

0.00%

1 year closed

4.40%

0.00%

2 year

4.60%

0.00%

3 year

4.99%

0.00%

4 year

5.34%

0.00%

5 year

5.44%

0.00%

6 year

5.85%

0.00%

7 year

6.45%

0.00%

10 year

7.15%

0.00%

18 year open

8.25%

0.00%

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

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