BMO Bank of Montreal Decreases Mortgage Rates

BMO Bank of Montreal today announced it is decreasing its residential mortgage rates. BMO's special mortgage offer on a five-year fixed rate drops to 4.49%, and is currently the lowest available market rate for a five-year fixed term. The new rates are effective January 21, 2009.

    The new rates are:

    Variable Rates:                 To:        Change:
    3 year open                    4.00%       -0.50%

    Homeowner ReadiLine(R)
    5-year variable rate closed
    term                           4.00%       -0.50%

    Fixed Rate Special              To:        Change:
    Offer*:
    5 Years (fixed/closed)         4.49%       -0.30%
    >>

*This special discounted rate is not the posted rate of BMO Bank of Montreal. Rates are subject to change without notice. Offer may be withdrawn or extended without notice. Mortgage funds must be advanced within 90 days of the application.

SOURCE: BMO Bank of Montreal

SOURCE: BMO FinancialGroup

Contacts: Paul Gammal, Toronto, (416) 867-3996, This email address is being protected from spambots. You need JavaScript enabled to view it., Internet: www.bmo.com