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Attention Business Editors
BMO Bank of Montreal Lowers Mortgage Rates
Special low-rate offer of 4.35 per cent remains lowest in the marketplace
TORONTO, May 7 /CNW/ - BMO Bank of Montreal announced today it is
changing its residential mortgage rates, effective May 8, 2010.
"BMO is committed to helping Canadians become mortgage-free sooner and we
continue to offer the lowest rate in the market," said Jane Yuen, Senior
Manager of Mortgages, Bank of Montreal "Now is a great time to come in to get
pre-approved and lock in with our five-year fixed rate of 4.35 per cent with a
maximum 25-year amortization. Customers have up to 90 days to search for the
home of their dreams and take advantage of this great low rate."
The new rates are:
<<
Fixed Rates: To: Change:
6 month fixed convertible 5.05% N/C
6 month fixed open 6.45% N/C
1 year fixed open 6.45% N/C
1 year fixed closed 3.50% N/C
2 year fixed closed 4.15% N/C
3 year fixed closed 4.75% N/C
4 year fixed closed 5.74% N/C
5 year low rate fixed closed 6.10% -0.15%
5 year fixed closed 6.10% -0.15%
6 year fixed closed 6.30% N/C
7 year fixed closed 7.00% N/C
10 year fixed closed 7.20% N/C
18 year fixed open 8.95% N/C
Special Offers*
To: Change:
4 year fixed closed 4.59% N/C
5 year low rate fixed closed 4.35% N/C
5 year fixed closed 4.70% -0.15%
7 year fixed closed 5.50% N/C
10 year fixed closed 5.65% N/C
>>
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withdrawn or extended without notice.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
Internet: www.bmo.com
-30-
/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/
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