BMO Bank of Montreal Lowers Mortgage Rates



    TORONTO, Jan. 28 /CNW/ - BMO Bank of Montreal announced today it is
decreasing its residential mortgage rates, effective January 29, 2008. The new
rates are:

    
    Fixed Rates:             To:      Change:

    6 month open             8.90%    0.00%
    6 month convertible      7.10%    0.00%
    1 year open              9.50%    0.00%
    1 year closed            7.35%    0.00%
    2 year                   7.40%   -0.10%
    3 year                   7.40%   -0.10%
    4 year                   7.39%   -0.10%
    5 year                   7.39%   -0.10%
    6 year                   7.55%   -0.10%
    7 year                   7.70%   -0.10%
    10 year                  8.05%   -0.15%
    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 7.39%.

    Special Offers(*)

                                   To:      Change:

    3 year (fixed/closed)          6.33%   -0.10%
    5 year (fixed/closed)          6.33%   -0.10%
    7 year (fixed/closed)          6.43%   -0.10%

    Homeowner ReadiLine(R)         5.50%    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        withdrawn or extended without notice.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.
    





For further information:

For further information: Katelyn Hunter, Toronto,
katelyn.hunter@bmo.com, (416) 867-3996; Lucie Gosselin, Montreal,
Lucie.Gosselin@bmo.com, (514) 877-1101; Internet: www.bmo.com


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