BMO Bank of Montreal Reduces 5 Year Fixed Mortgage Rate



    Also reduces 3 year and 5 year special offer rates to 5.33% &
    5.38% respectively

    TORONTO, March 30 /CNW/ - BMO Bank of Montreal announced today it is
changing its residential mortgage rates, effective March 31, 2007. The new
rates are:

    
    Fixed Rates:                 To:       Change:
    6 month open                8.25%       0.00%
    6 month convertible         6.45%       0.00%
    1 year open                 8.55%       0.00%
    1 year closed               6.40%       0.00%
    2 year                      6.49%       0.00%
    3 year                      6.49%       0.00%
    4 year                      6.49%       0.00%
    5 year                      6.44%      -0.05%
    6 year                      6.59%       0.00%
    7 year                      6.75%       0.00%
    10 year                     7.30%       0.00%
    18 year open                8.75%       0.00%

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

    The Five-Year Protected Variable Rate ceiling changes to 6.44%.

    Special Offers(*)

                                 To:       Change:
    3 year                      5.33%      -0.05%
    5 year                      5.38%      -0.05%

    "At this time of year, many people are involved in renovations or planning
to buy their first home," said Cid Palacio, Vice President, Retail Financing
Products. "This is a great time for our customers to come in and talk to us
about how we can help you to develop a personalized mortgage strategy."

    (*) These special discounted rates are not the posted rate 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        withdrawn or extended without notice.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: Michael Edmonds, Toronto,
michael.edmonds@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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