Bank’s 0.1 percentage point decrease follows similar moves by many of the major banks last month.
The Bank of Montreal (BMO-T57.35-0.52-0.90%) announced a 0.1 percentage point decrease in the posted rates for a number of its residential mortgages on Monday.
Among the rates being adjusted lower are the bank’s five-year fixed closed rate which falls to 5.79 per cent.
Also dropping are the bank’s six-month fixed convertible, which falls 0.1 percentage point to 4.75 per cent, along with its two-, three- and four-year fixed closed rates which drop to 3.85 per cent, 4.4 per cent and 5.44 per cent respectively.
Monday’s move by the Bank of Montreal
followed similar, 0.1 percentage point drops in mortgage rates by many of the major banks last month.
BMO shares were off 54 cents or just under one per cent at $57.33 in early afternoon trading Monday in a down day on the Toronto Stock Exchange.
Toronto — The Canadian Press Published on Monday, Jul. 05, 2010 2:43PM EDT
