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National Bank adjusts its mortgage rates

Montreal, 20 July 2001 - 

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of July 23, 2001.

TERM

CURRENT RATE (%)

NEW RATE

(%)

CHANGE

6 months open

7.200

7.450

0.250

1 year open

7.250

7.500

0.250

3 months Saver

6.300

6.300

0.000

3 months closed

6.650

6.650

0.000

6 months closed

7.000

7.000

0.000

1 year closed

6.700

6.700

0.000

2 years closed

7.050

7.050

0.000

3 years closed

7.300

7.300

0.000

4 years closed

7.650

7.650

0.000

5 years closed

7.750

7.750

0.000

7 years closed

8.200

8.200

0.000

10 years closed

8.550

8.550

0.000

- 30 -

Information:

Louise Mercure
Analyst
Public Relations Department
National Bank of Canada
(514) 394-6331
louise.mercure@bnc.ca