News Releases
BMO Bank of Montreal Reduces 5 Year Fixed Mortgage Rate
Also reduces 3 year and 5 year special offer rates to 5.33% & 5.38% respectively
BMO Bank of
mortgage rates, effective March 31, 2007. The new rates are:
|
Fixed Rates: |
To: |
Change: |
|
6 month open |
8.25% |
0.00% |
|
6 month convertible |
6.45% |
0.00% |
|
1 year open |
8.55% |
0.00% |
|
1 year closed |
6.40% |
0.00% |
|
2 year |
6.49% |
0.00% |
|
3 year |
6.49% |
0.00% |
|
4 year |
6.49% |
0.00% |
|
5 year |
6.44% |
-0.05% |
|
6 year |
6.59% |
0.00% |
|
7 year |
6.75% |
0.00% |
|
10 year |
7.30% |
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 6.44%.
Special Offers*
To: Change:
3 year 5.33% -0.05%
5 year 5.38% -0.05%
“At this time of year, many people are involved in renovations or
planning to buy their first home,” said Cid Palacio, Vice President,
Retail Financing Products.
“This is a great time for our customers to come in and talk to us
about how we can help you to develop a personalized mortgage strategy.”
*These special discounted rates are not the posted rate of BMO
Bank of Montreal
Rates are subject to change without notice. Offer may be withdrawn
or extended without notice. Mortgage funds must be advanced within
90 days of the application.
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