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BMO Bank of Montreal Increases Mortgage Rates

BMO Bank of Montreal announced today, it is changing its residential mortgage rates effective February 3, 2006. The new rates are:

Fixed Rates:

To:

Change:

6 month open

7.59%

0.10%

6 month convertible

5.15%

0.10%

1 year open

7.30%

0.05%

1 year closed

4.85%

0.05%

2 year

5.00%

0.05%

3 year

5.49%

0.15%

4 year

5.49%

0.00%

5 year

5.74%

0.15%

6 year

5.99%

0.00%

7 year

6.60%

0.00%

10 year

7.35%

0.00%

18 year open

8.25%

0.00%

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

The 5 Year Variable Protected rate increases to 6.45%.

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