News Releases

Media AdvisoryBMO: Bank of Canada Cut Makes Home Ownership Even More Attractive

TORONTO, April 21, 2009 – Join BMO's Sal Guatieri, Senior Economist, and John Turner, Director, Mortgages on a conference call today to answer your questions and to provide insight into the implications of prime and mortgage rates being lowered today.

What does this mean for homebuyers? Fixed or variable?
What does this mean for homeowners? Is it time to refinance?
Where are rates headed?
What are the trends in the housing market?

WHO:
Sal Guatieri, Senior Economist, BMO
John Turner, Director, Mortgages, BMO

WHAT:
Discuss the rate cuts and implications for the housing market and consumers

WHEN:
April 21, 2009 at 1:30p.m.

WHERE:
Local Dial-in Number 416-641-6150
Total Free Dial-in Number 1-800-952-5114
Conference ID 5357528

“The Bank of Canada signalled that interest rates will remain very low for possibly well into next year,” said Sal Guatieri, Senior Economist, BMO Bank of Montreal. “With interest rates at historic lows, housing affordability should remain highly attractive for a very long time.”

“This new round of rate cuts presents a great opportunity for those looking to purchase a home,” said John Turner, Director, Mortgages, BMO Bank of Montreal. “More than ever Canadians looking to buy a home or refinance their mortgage need clarity around what makes sense for them, such as choosing a fixed or variable mortgage, long term or short term, and what best fits their financial needs.”

BMO Bank of Montreal lowered its prime lending and mortgage rate rates today:

BMO Bank of Montreal Lowers CDN$ Prime Lending Rate to 2.25 Per Cent
www2.bmo.com/news/article/0,1083,contentCode-8597_divId-4_langId-1_navCode-112,00.html

BMO Bank of Montreal Decreases Mortgage Rates:
www2.bmo.com/news/article/0,1083,contentCode-8596_divId-4_langId-1_navCode-112,00.html

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