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:
|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%|
|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.