News Releases
BMO Bank of Montreal Decreases Mortgage Rates
TORONTO, January 20, 2009 – BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective January 21, 2009. This is in addition to the previous decreases on mortgage rates announced earlier today, including BMO's special mortgage offer on a five-year fixed rate which drops 0.30% to 4.49%. *
The new rates are:
| Fixed Rates: |
To:
|
Change:
|
| 6 month fixed convertible |
5.20%
|
-0.70%
|
| 6 month fixed open |
7.00%
|
-0.70%
|
| 1 year fixed open |
7.45%
|
-1.10%
|
| 1 year fixed closed |
4.50%
|
-1.10%
|
| 2 year fixed closed |
5.15%
|
-1.10%
|
| 3 year fixed closed |
5.15%
|
-1.10%
|
| 4 year fixed closed |
5.75%
|
-0.70%
|
| 5 year fixed closed |
5.79%
|
-0.96%
|
| 6 year fixed closed |
7.00%
|
0.00%
|
| 7 year fixed closed |
7.00%
|
-0.20%
|
| 10 year fixed closed |
7.15%
|
-0.20%
|
| 18 year fixed open |
8.95%
|
0.00%
|
(The interest on fixed-rate mortgages compounds semi-annually, not in advance.)
*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 Offer may be withdrawn or extended without notice.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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