BMO Bank of Montreal Changes Mortgage Rates



    TORONTO, June 8 /CNW/ - BMO Bank of Montreal announced today it is
changing its residential mortgage rates, effective June 9, 2007. The new rates
are:

    
    Fixed Rates:                               To:                   Change:
    6 month open                             8.50%                     0.10%
    6 month convertible                      6.70%                     0.10%
    1 year open                              9.15%                     0.15%
    1 year closed                            7.00%                     0.15%
    2 year                                   7.30%                     0.15%
    3 year                                   7.35%                     0.15%
    4 year                                   7.35%                     0.15%
    5 year                                   7.29%                     0.15%
    6 year                                   7.40%                     0.15%
    7 year                                   7.50%                     0.15%
    10 year                                  7.95%                     0.15%
    18 year open                             9.20%                     0.20%

    (The interest on fixed-rate mortgages compounds semi-annually, not in
    advance.)

    The Five-Year Protected Variable Rate ceiling changes to 7.29%.

    Special Offers(*)
                                               To:                   Change:
    3 year                                   6.18%                     0.15%
    5 year                                   6.23%                     0.15%

    (*) These special discounted rates are not the posted rates 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        withdrawn or extended without notice.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.
    





For further information:

For further information: Ralph Marranca, Toronto,
ralph.marranca@bmo.com, (416) 867-3996; Lucie Gosselin, Montreal,
lucie.gosselin@bmo.com, (514) 877-1101; Internet: www.bmo.com

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BMO BANK OF MONTREAL

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