BMO Bank of Montreal Changes Mortgage Rates



    TORONTO, Oct. 10 /CNW/ - BMO Bank of Montreal announced today it is
changing its residential mortgage rates, effective October 11, 2007. The new
rates are:

    
    Fixed Rates:              To:        Change:

    6 month open             8.55%        0.00%
    6 month convertible      6.85%       +0.10%
    1 year open              9.30%       +0.10%
    1 year closed            7.25%       +0.20%
    2 year                   7.40%       +0.10%
    3 year                   7.40%       +0.10%
    4 year                   7.40%       +0.10%
    5 year                   7.44%       +0.25%
    6 year                   7.50%       +0.10%
    7 year                   7.65%       +0.10%
    10 year                  7.95%        0.00%
    18 year open             9.20%        0.00%

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

    The Five-Year Protected Variable Rate ceiling changes to 7.44%.

    Special Offers(*)
                                          To:           Change:

    3 year (fixed/closed)                6.39%          +0.26%
    5 year (fixed/closed)                6.43%          +0.30%
    7 year (fixed/closed)                6.43%          +0.33%

    Homeowner ReadiLine(R)               5.75%           0.00%
    5-year variable rate closed term

    (*) 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        withdrawn or extended without notice.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.
    

    Effective until October 31, 2007 customers who take out a five-year term
mortgage or renew or refinance an existing mortgage for a five-year term will
receive BMO's Performance Plan with unlimited transactions for free over the
term - a savings of more than $800, which in some cases could translate into
an extra mortgage payment.





For further information:

For further information: Shivani Ahluwalia, Toronto,
shivani.ahluwalia@bmo.com, (416) 867-3996; Lucie Gosselin, Montreal,
Lucie.Gosselin@bmo.com, (514) 877-8224; Internet: www.bmo.com

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BMO BANK OF MONTREAL

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