News Releases
BMO Bank of Montreal Lowers Mortgage Rates
BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective February 16, 2008. The new rates are:
|
Fixed Rates: |
To: |
Change: |
|
6 month open |
8.90% |
0.00% |
|
6 month convertible |
7.10% |
0.00% |
|
1 year open |
9.40% |
-0.10% |
|
1 year closed |
7.25% |
-0.10% |
|
2 year |
7.30% |
-0.10% |
|
3 year |
7.30% |
-0.10% |
|
4 year |
7.19% |
-0.20% |
|
5 year |
7.29% |
-0.10% |
|
6 year |
7.45% |
-0.10% |
|
7 year |
7.65% |
-0.05% |
|
10 year |
8.00% |
-0.05% |
|
18 year open |
9.20% |
0.00% |
(The interest on fixed-rate mortgages compounds semi-annually, not in advance.)
The Five-Year Protected Variable Rate ceiling changes to 7.29%.
Special Offers*
To:
|
Change:
|
|
3 year (fixed/closed)
|
6.23%
|
-0.10%
|
5 year (fixed/closed)
|
6.23%
|
-0.10%
|
7 year (fixed/closed)
|
6.38%
|
-0.05%
|
Homeowner ReadiLine�
5-year variable rate closed term
|
5.50%
|
0.00%
|
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