National Bank adjusts its mortgage rates

Montreal, 4 June 2002 - 

National Bank of Canada has adjusted its rates for residential mortgages. The new rates are effective as of June 5, 2002.

TERM

CURRENT RATE
(%)

NEW RATE
(%)

CHANGE

6 months open

6.050

6.050

0.000

1 year open

6.350

6.350

0.000

3 months Saver

4.300

4.650

+0.350

3 months closed

4.650

5.000

+0.350

6 months closed

5.500

5.500

0.000

1 year closed

5.550

5.550

0.000

2 years closed

6.450

6.450

0.000

3 years closed

6.750

6.750

0.000

4 years closed

7.200

7.200

0.000

5 years closed

7.400

7.400

0.000

7 years closed

8.100

8.100

0.000

10 years closed

8.600

8.600

0.000


- 30 -

Information:

Denis Dubé
Manager
Public Relations Department
National Bank of Canada
(514) 394-8644
denis.dube@bnc.ca

* The telephone number and e-mail address are for the exclusive use of journalists and other media representatives.