TORONTO, ONTARIO -- (Marketwire) -- 03/26/13 -- As previously announced, BMO's limited time offer on 5-year residential mortgage rates ends this week. BMO Bank of Montreal today announced it is increasing residential mortgage rates, effective March 29, 2013.
The new rate is:
Fixed Rate: To: Change:5-year low-rate fixed closed 3.09% +0.10%
"Our advice to Canadians is simple: Protect yourself from rising rates by locking in for five years and become mortgage-free faster by choosing a maximum amortization of 25 years," said Ernie Johannson, Senior Vice President, Personal Banking Canada, BMO Financial Group. "This mortgage is the responsible choice for the times."
For more information on the BMO 5-year fixed low-rate mortgage, please visit BMO.com/Mortgages.
Rates are subject to change without notice. Offers may be withdrawn or extended without notice. Mortgage funds must be advanced within 90 days of the application.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at January 31, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Matt Duffin, Toronto
Valerie Doucet, Montreal
Laurie Grant, Vancouver