CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

May 2010 National News Archive


Related Links:
National Archive
2010 Archive
January 2010
February 2010
March 2010
April 2010
May 2010
June 2010
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010

CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

BMO Bank of Montreal Lowers Mortgage Rates

TORONTO, Ontario, May 07, 2010 — BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective May 8, 2010.

“BMO is committed to helping Canadians become mortgage-free sooner and we continue to offer the lowest rate in the market,” said Jane Yuen, Senior Manager of Mortgages, Bank of Montreal “Now is a great time to come in to get pre-approved and lock in with our five-year fixed rate of 4.35 per cent with a maximum 25-year amortization. Customers have up to 90 days to search for the home of their dreams and take advantage of this great low rate.”

The new rates are:

Fixed Rates: To: Change:
6 month fixed convertible 5.05% N/C
6 month fixed open 6.45% N/C
1 year fixed open 6.45% N/C
1 year fixed closed 3.50% N/C
2 year fixed closed 4.15% N/C
3 year fixed closed 4.75% N/C
4 year fixed closed 5.74% N/C
5 year low rate fixed closed 6.10% -0.15%
5 year fixed closed 6.10% -0.15%
6 year fixed closed 6.30% N/C
7 year fixed closed 7.00% N/C
10 year fixed closed 7.20% N/C
18 year fixed open 8.95% N/C

Special Offers* To: Change:
4 year fixed closed 4.59% N/C
5 year low rate fixed closed 4.35% N/C
5 year fixed closed 4.70% -0.15%
7 year fixed closed 5.50% N/C
10 year fixed closed 5.65% N/C

The interest rate for a fixed rate mortgage is calculated half-yearly not in advance.

*These special discounted rates are not the posted rates of BMO Bank of Montreal. Rates are subject to change without notice and offers may be withdrawn or extended without notice. Refer to our website for current residential mortgage posted rates. Mortgage funds must be advanced within 90 days of the application.

For news media enquiries, please contact:

Martha McInnis, Toronto, 416-867-3996,
Sarah Bensadoun, Montreal, 514-877-8224,

News source: BMO Financial Group


Top of page