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      News Releases

      BMO Bank of Montreal Changes Mortgage RatesBMO's highly-competitive variable rates remain unchanged, including five-year closed at 2.25 per cent

      TORONTO, October 13, 2009 – BMO Bank of Montreal today announced it is increasing its residential fixed mortgage rates. Effective October 14, 2009, the new rates are as follows:

      Fixed Rates:

      To:

      Change:

      6 month fixed convertible

      4.65%

      0.10%

      6 month fixed open

      6.45%

      0.10%

      1 year fixed open

      6.80%

      N/C

      1 year fixed closed

      3.70%

      N/C

      2 year fixed closed

      3.95%

      0.10%

      3 year fixed closed

      4.45%

      0.10%

      4 year fixed closed

      5.29%

      0.35%

      5 year fixed closed

      5.84%

      0.35%

      6 year fixed closed

      5.84%

      0.35%

      7 year fixed closed

      6.80%

      0.20%

      10 year fixed closed

      6.95%

      0.20%

      18 year fixed open

      8.95%

      N/C


      Variable rates:
      To:
      Change:
      5 year closed
      2.25%
      N/C
      3 year open
      3.05%
      N/C

      (The interest on fixed-rate mortgages compounds semi-annually, not in advance.)

      Special Offers*
      
      To:
      
      Change:
      
      5 year (fixed/closed)
      
      4.54%
      
      0.35%
      


      *This special discounted rate is not the posted rate of BMO Bank of Montreal. Rate is 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 Offer may be withdrawn or extended without notice.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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