News Releases
TORONTO, ONTARIO--(Marketwired - Dec. 9, 2013) - BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective December 10, 2013.
The new rates are changing to the following:
| Fixed Rates: | To: | Change: |
| 1 year fixed closed | 3.24% | +0.10% |
| 2 year fixed closed | 3.24% | +0.10% |
| 3 year fixed closed | 4.05% | +0.10% |
| 4 year fixed closed | 4.84% | +0.10% |
| 5 year fixed closed | 5.44% | +0.10% |
| 5 year low rate fixed closed | 3.89% | +0.10% |
| Variable Rates: | ||
| 3 year open | 4.10% | +0.10% |
| 5 year closed | 3.10% | +0.10% |
The interest rate for a fixed rate mortgage is calculated half-yearly not in advance. The interest rate for a variable rate mortgage is calculated monthly not in advance.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $537 billion as at October 31, 2013, and more than 45,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
Matt Duffin, Toronto
(416) 867-3996
matthew.duffin@bmo.com
Ron Monet, Montreal
(514) 877-1873
ronald.monet@bmo.com
Laurie Grant, Vancouver
(604) 665-7596
laurie.grant@bmo.com
Internet: www.bmo.com
Twitter: @BMOMedia
