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    BMO Bank of Montreal Lowers Mortgage Rates
    Get pre-approved now for BMO's special low-rate offer of 4.35 per cent which remains best in the market

    TORONTO, May 20, 2010 - BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective May 21, 2010.

    "Mortgage rates are still near historical lows. This, combined with cooling house prices resulting from an upswing in listings, will help support affordability for Canadians looking to purchase a home," said Sal Guatieri, Senior Economist, BMO Capital Markets.
     

    The new rates are:

    Fixed Rates:

    To:

    Change:

    5 year low rate fixed closed

    5.99%

    -0.11%

    5 year fixed closed

    5.99%

    -0.11%

    Special Offers*
                
    To:
                
    Change:
                
    5 year low rate fixed closed
                
    4.35%
    N/C
                
    5 year fixed closed
                
    4.59%
                
    -0.11%
                

    **The interest rate for a fixed rate mortgage is calculated half-yearly not in advance.

    *These special discounted rates are not the posted rates of BMO Bank of Montreal. Rates are subject to change without notice and offers may be withdrawn or extended without notice. Refer to our website for current residential mortgage posted rates. Mortgage funds must be advanced within 90 days of the application.

    For further information:

    For news media enquiries, please contact:

    Martha McInnis, Toronto, 416-867-3996, martha.mcinnis@bmo.com
    Sarah Bensadoun, Montreal, 514-877-8224, sarah.bensadoun@bmo.com