News Releases
BMO Bank of Montreal Decreases Mortgage Rates
TORONTO, December 10, 2008– BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective December 11, 2008.
The new rates are:
| Fixed Rates: |
To:
|
Change:
|
| 6 month fixed convertible |
5.90%
|
-0.20%
|
| 6 month fixed open |
7.70%
|
-0.20%
|
| 1 year fixed open |
8.55%
|
0.00%
|
| 1 year fixed closed |
5.60%
|
0.00%
|
| 2 year fixed closed |
6.25%
|
-0.20%
|
| 3 year fixed closed |
6.25%
|
-0.20%
|
| 4 year fixed closed |
6.45%
|
-0.20%
|
| 5 year fixed closed |
6.75%
|
-0.20%
|
| 6 year fixed closed |
7.00%
|
-0.20%
|
| 7 year fixed closed |
7.20%
|
-0.20%
|
| 10 year fixed closed |
7.35%
|
-0.20%
|
| 18 year fixed copen |
8.95%
|
0.00%
|
| (The interest on fixed-rate mortgages compounds semi-annually, not in advance.) | ||
| Special Offer* |
To:
|
Change:
|
| 5 year (fixed/closed) |
4.79%
|
-0.20%
|
*This special discounted rate is 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 Offer may be withdrawn or extended without notice.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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