News Releases
BMO Bank of Montreal Changes Mortgage Rates
BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective December 5, 2006. The new rates are:
|
Fixed Rates: |
To: |
Change: |
|
6 month open |
8.20% |
0.00% |
|
6 month convertible |
6.40% |
0.00% |
|
1 year open |
8.55% |
0.00% |
|
1 year closed |
6.40% |
0.00% |
|
2 year |
6.50% |
0.00% |
|
3 year |
6.50% |
0.00% |
|
4 year |
6.50% |
0.00% |
|
5 year |
6.50% |
-0.05% |
|
6 year |
6.55% |
-0.05% |
|
7 year |
6.90% |
0.00% |
|
10 year |
7.25% |
0.00% |
|
18 year open |
8.75% |
0.00% |
(The interest on fixed-rate mortgages compounds semi-annually, not in advance.)
The Five-Year Protected Variable Rate ceiling changes to 6.50%.
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