News Releases
BMO Bank of Montreal Increasing Mortgage Rates
TORONTO, December 06, 2005 – BMO Bank of Montreal today announced that it is changing its variable and fixed residential mortgage rates, effective December 7, 2005.
The new rates are:
|
Variable Rates: |
To: |
Change: |
|
3 year open |
5.000% |
0.25% |
|
6 year Below Prime |
4.625% |
0.25% |
|
5 year Protected |
4.900% |
0.25% |
The cap on the five-year protected variable rate mortgage is 6.15%
|
Fixed Rates: |
To: |
Change: |
|
6 month open |
7.24% |
0.25% |
|
6 month convertible |
4.70% |
0.00% |
|
1 year open |
6.85% |
0.00% |
|
1 year closed |
4.55% |
0.15% |
|
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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