News Releases
BMO Bank of Montreal Changes Mortgage Rates
TORONTO, September 25, 2008 – BMO Bank of Montreal announced today it is increasing its residential mortgage rates, effective September 26, 2008. The new rates are:
| Fixed Rates: | To: | Change: |
| 6 month fixed convertible | 6.21% | 0.00% |
| 6 month fixed open | 8.01% | 0.00% |
| 1 year fixed open | 8.80% | 0.00% |
| 1 year fixed closed | 6.65% | 0.00% |
| 2 year fixed closed | 6.70% | 0.00% |
| 3 year fixed closed | 7.05% | 0.35% |
| 4 year fixed closed | 7.04% | 0.35% |
| 5 year fixed closed | 7.20% | 0.35% |
| 6 year fixed closed | 7.45% | 0.35% |
| 7 year fixed closed | 7.65% | 0.35% |
| 10 year fixed closed | 8.00% | 0.35% |
| 18 year fixed open | 8.95% | 0.00% |
(The interest on fixed-rate mortgages compounds semi-annually, not in advance.)
| Special Offers* | To: | Change: |
| 3 year (fixed/closed) | 6.04% | 0.35% |
| 5 year (fixed/closed) | 6.14% | 0.35% |
| 7 year (fixed/closed) | 6.24% | 0.35% |
*These special discounted rates are not the posted rates 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 Offer may be withdrawn or extended without notice.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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