BMO Bank of Montreal Changes Mortgage Rates



    TORONTO, Sept. 25 /CNW/ - BMO Bank of Montreal announced today it is
increasing its residential mortgage rates, effective September 26, 2008. The
new rates are:

    
    Fixed Rates:                              To:      Change:

    6 month fixed convertible               6.21%        0.00%
    6 month fixed open                      8.01%        0.00%
    1 year fixed open                       8.80%        0.00%
    1 year fixed closed                     6.65%        0.00%
    2 year fixed closed                     6.70%        0.00%
    3 year fixed closed                     7.05%       +0.35%
    4 year fixed closed                     7.04%       +0.35%
    5 year fixed closed                     7.20%       +0.35%
    6 year fixed closed                     7.45%       +0.35%
    7 year fixed closed                     7.65%       +0.35%
    10 year fixed closed                    8.00%       +0.35%
    18 year fixed open                      8.95%        0.00%
    The Five-Year Protected Variable Rate ceiling changes to 7.20%.

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

    Special Offers(*)                         To:      Change:

    3 year (fixed/closed)                   6.04%       +0.35%
    5 year (fixed/closed)                   6.14%       +0.35%
    7 year (fixed/closed)                   6.24%       +0.35%

    (*) 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        withdrawn or extended without notice.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: Kasia Lech, Toronto, (416) 867-3996,
kasia.lech@bmo.com; Internet: www.bmo.com


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